J.B. Brown & Sons Acquires Office Property In Portland, ME For $8.7M
13 Davis Farm Rd, Portland, Maine 04103, United States
$8,685,000
$64/SF
Building Size
135,000 SF
Asset Type
Office
Closing
Mar 10, 2022
About this deal
AI
Located in Portland, ME, the office property at 1 & 13 Davis Farm Rd has recently been sold. The transaction took place on 03/11/2022, with a sale price of $8,685,000. Spanning an area of 135,000 square feet, the property was sold at an average price of $64 per square foot. The buyer of the property was J.B. Brown & Sons, while the seller was Davison Trusts. The deal was facilitated by the brokers Drew Sigfridson SIOR, Tony McDonald CCIM SIOR, and Jon Rizzo, all representing The Boulos Company.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $8,685,000
- Address: 1 & 13 Davis Farm Rd, Portland, ME
- Market: Portland, ME
The sale of 1 & 13 Davis Farm Rd was made possible through the expertise of Drew Sigfridson SIOR, Tony McDonald CCIM SIOR, and Jon Rizzo, all of whom represented The Boulos Company. J.B. Brown & Sons acquired the property from Davison Trusts in this transaction. The office property presents a valuable investment opportunity in the Portland market.
On the Map
$8,685,000
$64/SF
Office
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Portland Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.83%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93