Updated Dec 4, 2024
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:
- Property Type: Commercial
- Transaction Amount: $3,800,000
- Address: 350 Fall River Avenue, Seekonk, MA
- Market: Seekonk, MA
- Asset Type: Commercial
- Acres: 10
- Buyer: Macaw Country Club, Inc
- Seller: 350 Commercial, LLC
- Broker: Greg Micallef - Olympus Group Real Estate
- SF: 25,000
- PPSF: $152
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.
Seekonk Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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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