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234 Norfolk Street

Church Of God Of Prophecy, Incorporated Acquires Church In Dorchester, MA For $2.1M
SOLDChurch

Church Of God Of Prophecy, Incorporated Acquires Church In Dorchester, MA For $2.1M

234 Norfolk Street

$2,100,000

$123/SF

Building Size

17,073 SF

Asset Type

Church

Closing

Apr 20, 2023

AI

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.

Players

Robert Nichols

MIG Realty

Broker

$69M

vol

44 deals

Broker

Market Church Market Snapshot

Boundary boundary · Church · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93