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Real Estate Property Services Acquires Two Commercial Buildings In Wilmington From Michael Procopio For $9.4M
SOLD
$9,400,000
Massachusetts
See Similar DealsCommercial10,488 SF
Sold 05/14/2025
SOLD
Real Estate Property Services Acquires Two Commercial Buildings In Wilmington From Michael Procopio For $9.4M
203 Lowell Street
See Similar DealsCommercial10,488 SF
Sold 05/14/2025
Summary
MASSACHUSETTS
Asset Type:Commercial
Price Per Square Foot:$896
Total Square Footage:10,488 SF
Transaction Type:Sale
The asset involved in this transaction is a commercial property located at 203 Lowell Street, Wilmington. The sale price was $9,400,000 for a total square footage of 10,488, translating to a price per square foot of $896.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $9,400,000
- Buyer: Real Estate Property Services
- Seller: Michael Procopio - Procopio Companies
- Square Footage: 10,488
- Price Per Square Foot: $896
Michael Procopio of Procopio Companies represented the seller in the transaction, facilitating the sale of two commercial buildings to Real Estate Property Services.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$501,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,396.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,560.80
Annual Debt Service$534,729.55
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