Daniel Dewing Facilitates $3.6M Sale Of Development Site On Alpine Street, Somerville, MA
SOLD
$3,600,000
Massachusetts
See Similar DealsDevelopment Site10,746 SF
Sold 07/26/2020
SOLD
Daniel Dewing Facilitates $3.6M Sale Of Development Site On Alpine Street, Somerville, MA
2-12 Alpine Street, Somerville, MA, USA
See Similar DealsDevelopment Site10,746 SF
Sold 07/26/2020
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$335
Total Square Footage:10,746 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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