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45 Commerce Drive In Augusta, ME Sold For $18.5M To 45 Commerce Drive LLC

Property Image
SOLD
$18,500,000
Greg Boulos
Chris Paszyc

Maine

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Commercial317,400 SF
Sold 02/23/2023
the dealplayerscompscontact
Property Image
SOLD

45 Commerce Drive In Augusta, ME Sold For $18.5M To 45 Commerce Drive LLC

45 Commerce Drive, Augusta, Maine 04330, United States

See Similar Deals
Commercial317,400 SF
Sold 02/23/2023
Greg Boulos
Chris Paszyc
the dealplayerscompscontact
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Summary

MAINE
Asset Type:Commercial
Price Per Square Foot:$58
Total Square Footage:317,400 SF
Transaction Type:Sale

The commercial property located at 45 Commerce Drive in Augusta, ME has been sold in a transaction worth $18,500,000. The property spans a total area of 317,400 square feet, resulting in a price per square foot of $58. The buyer of the property is 45 Commerce Drive LLC, while the seller is Central Maine Commerce Center LP.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $18,500,000
  • Address: 45 Commerce Drive, Augusta, ME
  • Market: Augusta, ME
  • Buyer: 45 Commerce Drive LLC
  • Seller: Central Maine Commerce Center LP
  • Brokers: Chris Paszyc, Greg Boulos, and Dan Greenstein - The Boulos Co
  • Square Footage: 317,400
  • Price per Square Foot: $58

The deal was facilitated by the brokers Chris Paszyc, Greg Boulos, and Dan Greenstein from The Boulos Co. They represented both the buyer, 45 Commerce Drive LLC, and the seller, Central Maine Commerce Center LP, in this transaction.

Players

Greg Boulos
The Boulos Company
Greg Boulos
3 deals$22M volume
BROKER
Chris Paszyc
The Boulos Company
Chris Paszyc
2 deals$23M volume
BROKER

Details

SOLD
IMAGE: Chris Paszyc, Greg Boulos & Dan Greenstein DATE: 02/23/2023 ADDRESS: 45 Commerce Drive MARKET: Augusta, ME ASSET TYPE: Commercial BUYER: 45 Commerce Drive LLC SELLER: Central Maine Commerce Center LP BROKERS: Chris Paszyc, Greg Boulos & Dan Greenstein - The Boulos Co SALE PRICE: $18,500,000 SF: 317,400 ~ PPSF: $58

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$986,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$65,726.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,699.44
Annual Debt Service$1,052,393.26