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:
- Property Type: Development Site
- Transaction Amount: $1,600,000
- Address: 2 Ginn Road
- Market: Scarborough, ME
- Acres: 1.35
- Buyer: Atlantic Regional Federal Credit Union
- Broker: Tyler DeWolfe - Greater Boston Commercial Properties
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.
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