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2-12 Alpine Street, Somervi...

Daniel Dewing Facilitates $3.6M Sale Of Development Site On Alpine Street, Somerville, MA
SOLDDevelopment Site

Daniel Dewing Facilitates $3.6M Sale Of Development Site On Alpine Street, Somerville, MA

2-12 Alpine Street, Somerville, MA, USA

$3,600,000

$335/SF

Building Size

10,746 SF

Asset Type

Development Site

Closing

Jul 26, 2020

AI

Located at 2-12 Alpine Street in Somerville, MA, this development site recently changed hands in a closed transaction. The property is characterized as a development site, offering potential for future construction and expansion. The sale took place on July 26, 2021, with a sale price of $3,600,000.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $3,600,000
  • Broker: Daniel Dewing
  • BSF: 35,000
  • PPBSF: $103
  • SF: 10,746
  • PPSF: $335

Facilitating the sale was Daniel Dewing of an undisclosed agency, who acted as the broker representing the parties involved in the transaction. The property's location in Somerville, MA, presents prospects for growth and development, making it an attractive investment opportunity.

Players

Daniel Dewing

Boston Realty Advisors

Broker

$15.8M

vol

5 deals

Broker

Somerville Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.41%

Cash-on-Cash

-1.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93