Kinvarra Capital Acquires Development Site In Somerville, MA For $3.47M
SOLD
$3,470,000
Massachusetts
See Similar DealsDevelopment Site10,063 SF
Sold 04/12/2022
SOLD
Kinvarra Capital Acquires Development Site In Somerville, MA For $3.47M
121 Prospect Street, Somerville, Massachusetts 02143, United States
See Similar DealsDevelopment Site10,063 SF
Sold 04/12/2022
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$344
Total Square Footage:10,063 SF
Transaction Type:Sale
121 Prospect St in Somerville, MA has been sold in a recent transaction. The development site was purchased by Kinvarra Capital from Prospect - Houghton Realty Trust. The deal was facilitated by Daniel Dewing of Boston Realty Advisors.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,470,000
- Address: 121 Prospect St, Somerville, MA
- Market: Somerville, MA
- SF: 10,063
- PPSF: $345
- BSF: 29,000
- PPBSF: $120
Daniel Dewing of Boston Realty Advisors played a key role as the broker representing both parties in the transaction. This deal highlights the active real estate market in Somerville, MA, with Kinvarra Capital securing a valuable development site for $3,470,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$185,066.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,328.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,449.57
Annual Debt Service$197,394.84
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