Jim Zorbas Acquires Development Site In Haverhill, MA For $1.5M
235 Essex Street, Haverhill, Massachusetts 01832, United States
$1,500,000
$90/SF
Building Size
16,500 SF
Asset Type
Development Site
Closing
Dec 10, 2021
AI
Located at 235 Essex St in Haverhill, MA, this development site has been sold in a closed transaction. The property spans approximately 1.5 acres and features full approval for a 27-unit development. The buyer, Jim Zorbas, has acquired the site from FTG Realty at a sale price of $1,500,000.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $1,500,000
- Address: 235 Essex St, Haverhill, MA
- Market: Haverhill, MA
- Buyer: Jim Zorbas
- Seller: FTG Realty
The transaction was facilitated by Taylor Saulnier and Jeremy Cyrier from Mansard Commercial Properties, who represented both the seller and the buyer in this deal.
Players
Haverhill 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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93