Thomas Gadbois Sells Office Building At 49 Spring Street Scarborough For $14.5M
49 Spring Street
$14,500,000
$391/SF
Building Size
37,000 SF
Asset Type
Office
Closing
May 3, 2026
About this deal
AI
The property asset involved in the transaction is an office building located at 49 Spring Street in Scarborough, ME. The sale price of the property was $14,500,000, and it has a total area of 37,000 square feet, resulting in a price per square foot of $391.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $14,500,000
- Address: 49 Spring Street
- Market: Scarborough, ME
- Square Footage: 37,000
- Price per Square Foot: $391
- Broker: Thomas Gadbois
Thomas Gadbois represented the sale of the office property in this transaction. His involvement facilitated the negotiation and closing process, ensuring a successful completion of the deal.
Players
Scarborough 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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93