Clark University Acquires 7.3 Acres Of Land In Worcester, MA For $6.95M
520 Park Ave, Worcester, Massachusetts, USA
$6,950,000
Building Size
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Asset Type
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Closing
Nov 12, 2021
AI
The land located at 520 Park Ave & 111 Maywood St in Worcester, MA has been sold for a price of $6,950,000. The property spans across 7.3 acres, making it a valuable asset for development or other purposes.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $6,950,000
- Address: 520 Park Ave & 111 Maywood St, Worcester, MA
- Market: Worcester, MA
- Asset Type: Land
- Acres: 7.3
Clark University has acquired the property from Family Holdings Nominee Trust & Jerek Realty. The deal was facilitated by brokers Drew Higgins & Will Kelleher from Kelleher & Sadowsky, who represented the buyers and sellers respectively. The acquisition provides Clark University with significant potential for future development or expansion.
Players
Worcester CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.28%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93