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520 Park Ave, Worcester, Ma...

Clark University Acquires 7.3 Acres Of Land In Worcester, MA For $6.95M
SOLD

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

Asset Type

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

Drew Higgins

Broker

$7M

vol

2 deals

Broker

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