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350 Fall River Avenue

Updated Dec 4, 2024

Macaw Country Club Acquires Former Firefly Clubhouse In Seekonk For $3.8M
SOLDCommercial

Macaw Country Club Acquires Former Firefly Clubhouse In Seekonk For $3.8M

350 Fall River Avenue

$3,800,000

$152/SF

Building Size

25,000 SF

Asset Type

Commercial

Closing

Apr 11, 2024

About this deal

AI

The former Firefly Clubhouse at 350 Fall River Ave. in Seekonk, MA, has been sold for $3.8 million. The property, spanning 25,000 square feet on a 10-acre lot, will undergo a transformation into the Macaw Country Club. The club will feature indoor banquet dining, sports training facilities, day spa amenities, and outdoor attractions, including a family cafe, swimming areas, tennis courts, and a soccer field.

Summary of transation details:

The deal was facilitated by Greg Micallef from Olympus Group Real Estate, representing the buyer, Macaw Country Club, Inc, and the seller, 350 Commercial, LLC. The transaction showcases the strategic alignment between the involved parties to repurpose the property into a new and vibrant community space.

Players

Greg Micallef

Olympus Group Real Estate

Broker

$3.8M

vol

1 deal

Broker

Seekonk Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Deal FAQ

About $152 per square foot on a published $3.8M for 25,000 square feet (2024).

Visit Olympus Group Real Estate to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.17%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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