Church Of God Of Prophecy, Incorporated Acquires Church In Dorchester, MA For $2.1M
SOLD
$2,100,000
Massachusetts
See Similar DealsChurch17,073 SF
Sold 04/20/2023
SOLD
Church Of God Of Prophecy, Incorporated Acquires Church In Dorchester, MA For $2.1M
234 Norfolk Street
See Similar DealsChurch17,073 SF
Sold 04/20/2023
Summary
MASSACHUSETTS
Asset Type:Church
Price Per Square Foot:$123
Total Square Footage:17,073 SF
Transaction Type:Sale
The church located at 234 Norfolk Street in Dorchester, MA has been sold for $2,100,000. The property, a church building, spans 17,073 square feet and was purchased by the Church of God of Prophecy, Incorporated.
Summary of transation details
- Property Type: Church
- Transaction Amount: $2,100,000
- Address: 234 Norfolk Street, Dorchester, MA
- Square Footage: 17,073
- Price per Square Foot: $123
- Buyer: Church of God of Prophecy, Incorporated
- Seller: Mt. Olive Kingdom Builders' Workshop
- Seller's Representative: Robert Nichols & Roody Lambert - MIG Realty
The sale of the church was facilitated by Robert Nichols and Roody Lambert of MIG Realty, who represented the seller, Mt. Olive Kingdom Builders' Workshop.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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