Jim Zorbas Acquires Development Site In Haverhill, MA For $1.5M
SOLD
$1,500,000
Massachusetts
See Similar DealsDevelopment Site16,500 SF
Sold 12/10/2021
SOLD
Jim Zorbas Acquires Development Site In Haverhill, MA For $1.5M
235 Essex Street, Haverhill, Massachusetts 01832, United States
See Similar DealsDevelopment Site16,500 SF
Sold 12/10/2021
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$90
Total Square Footage:16,500 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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