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295 Park Avenue, Portland, ...

Greater Portland Health Acquires Medical Office At 295 Park Ave In Portland, ME For $2.1M
SOLD

Greater Portland Health Acquires Medical Office At 295 Park Ave In Portland, ME For $2.1M

295 Park Avenue, Portland, Maine 04102, United States

$2,100,000

$291/SF

Building Size

7,197 SF

Asset Type

Closing

May 5, 2022

AI

The medical office located at 295 Park Ave in Portland, ME has been sold for a price of $2,100,000. The property spans across 7,197 square feet, resulting in a price per square foot of $292. The transaction took place on 05/06/2022 between the buyer, Greater Portland Health, and the seller, Firehouse Five, LLC.

Summary of transaction details

Greg Boulos and Samantha Marinko from The Boulos Company represented Greater Portland Health in the transaction, while Katie Allen, Esq. and Tom Moulton, CCIM, SIOR of The Dunham Group represented Firehouse Five, LLC. The sale of this medical office represents a significant transaction in the Portland, ME market.

Players

Tom Moulton

The Dunham Group

Broker

$2.1M

vol

1 deal

Broker

Portland CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93