The Forever Young Group Leases Commercial Space In Mattapan, MA
120 Babson Street, Boston, MA, USA
Building Size
24,498 SF
Asset Type
Commercial
Closing
Dec 11, 2020
AI
Located at 120 Babson Street in Mattapan, MA, a commercial property has been leased by The Forever Young Group. The property, formerly known as Pope John Paul II Catholic Academy, will be converted into an adult assisted living facility with 37 apartments. The lease term spans an impressive 75 years, with an asking rent of $122,020 per year. The property sits on 1.3 acres, covering a total area of 24,404 square feet.
Summary of transaction details
- Property Type: Commercial
- Tenant: The Forever Young Group
- Landlord: Archdiocese of Boston
- Broker: Jeff Similien - Boston Trust Realty Group, & James Elock - Colliers International
- Lease Term: 75 years
- Asking Rent: $122,020 (Annual)
- Acres: 1.3
Our congratulations go out to The Forever Young Group, Jeff Similien of Boston Trust Realty Group, and James Elock of Colliers International for brokering this deal.
Players
Boston Commercial Market Snapshot
Boundary boundary · Commercial · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93