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235 Essex Street, Haverhill...

Jim Zorbas Acquires Development Site In Haverhill, MA For $1.5M
SOLDDevelopment Site

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

Jeremy Cyrier

Broker

$45.6M

vol

12 deals

Broker

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