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2 Ginn Road

Atlantic Regional Federal Acquires Development Site At 2 Ginn Road Scarborough For $1.6M
SOLDDevelopment Site

Atlantic Regional Federal Acquires Development Site At 2 Ginn Road Scarborough For $1.6M

2 Ginn Road

$1,600,000

Building Size

Asset Type

Development Site

Closing

Aug 2, 2024

AI

A 1.35-acre development site located at 2 Ginn Road in Scarborough, ME, has been sold for $1,600,000. This property is intended for a new branch of the Atlantic Regional Federal Credit Union.

Summary of transaction details:

Tyler DeWolfe of Greater Boston Commercial Properties, Inc. facilitated the sale and is also responsible for listing two additional retail land sites for the same owner in Augusta and Mexico, Maine.

Players

Tyler DeWolfe

Greater Boston Commercial Properties

Broker

$30.7M

vol

9 deals

Broker

Scarborough Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93