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154 Middle Street

Kevin Thomas Acquires 154 Middle Street Retail In Portland, ME From Peak 5 Equities For $1.35M
SOLDRetail

Kevin Thomas Acquires 154 Middle Street Retail In Portland, ME From Peak 5 Equities For $1.35M

154 Middle Street

$1,350,000

Building Size

Asset Type

Retail

Closing

Jun 23, 2023

AI

Kevin Thomas, owner of Portland Art Gallery, along with gallery director Emma Wilson, has acquired 154 Middle St. in Portland, ME. The retail property was purchased from Peak 5 Equities, LLC for $1.35 million. The transaction took place on June 23, 2023. The property is located at 154 Middle Street in the Portland market.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $1,350,000
  • Buyer: Kevin Thomas
  • Seller: Peak 5 Equities, LLC
  • Broker: Greg Boulos - Boulos Company

Kevin Thomas, along with Emma Wilson, acquired 154 Middle St. for $1.35 million from Peak 5 Equities, LLC. Kevin Thomas is the owner of Portland Art Gallery. The transaction was facilitated by broker Greg Boulos from Boulos Company.

Players

Greg Boulos

The Boulos Company

Broker

$22M

vol

3 deals

Broker

Portland Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.75%

Cash-on-Cash

-3.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93