Arch Diocese Of Boston Sells Development Site In Chelsea, MA For $2.3M
SOLD
$2,600,000
Massachusetts
See Similar DealsDevelopment Site26,000 SF
Sold 10/01/2021
SOLD
Arch Diocese Of Boston Sells Development Site In Chelsea, MA For $2.3M
163 Chestnut St, Chelsea, Massachusetts, USA
See Similar DealsDevelopment Site26,000 SF
Sold 10/01/2021
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$100
Total Square Footage:26,000 SF
Transaction Type:Sale
The development site located at 163 Chestnut St in Chelsea, MA has been sold in a closed transaction. The property, listed by the Arch Diocese of Boston, was represented by broker Robert Saenz. The sale price for the development site was $2,300,000 with an asking price of $2,600,000. The property has a total buildable square footage of 26,000, resulting in a price per square foot of $88.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,300,000
- Address: 163 Chestnut St, Chelsea, MA
- Market: Chelsea, MA
- Seller: Arch Diocese of Boston
- Broker: Robert Saenz
- Asking Price: $2,600,000
- Buildable Square Footage: 26,000
- Price per Square Foot: $88
The successful sale of the development site was facilitated by broker Robert Saenz. This transaction represents a notable deal in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
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