Kinvarra Capital Acquires Development Site From Gary Shea In Somerville For $3.3M
SOLD
$3,300,000
Massachusetts
See Similar DealsDevelopment Site5,492 SF
Sold 09/12/2025
SOLD
Kinvarra Capital Acquires Development Site From Gary Shea In Somerville For $3.3M
32 40 White Street
See Similar DealsDevelopment Site5,492 SF
Sold 09/12/2025
Summary
MASSACHUSETTS
Asset Type:Development Site
Price Per Square Foot:$600
Total Square Footage:5,492 SF
Transaction Type:Sale
This development site located at 32-40 White Street in Somerville, MA has been sold for a transaction amount of $3,300,000. The property encompasses a building size of 5,492 square feet and features a total buildable square footage of 28,903. The price per buildable square foot stands at $114, while the price per square foot is $600.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,300,000
- Address: 32-40 White Street
- Market: Somerville, MA
- Building Size: 5,492 SF
- Buildable Square Footage: 28,903 BSF
- Price per Buildable Square Foot: $114
- Price per Square Foot: $600
- Buyer: Kinvarra Capital
- Seller: Gary Shea
- Broker Representatives: Ryan Taylor & Justin Pepple - Fortune Realty
The transaction involved Kinvarra Capital as the buyer and Gary Shea as the seller, facilitated by broker representatives Ryan Taylor and Justin Pepple from Fortune Realty. This sale reflects a significant development opportunity within the Somerville market.
Players
BROKERAGE
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
Is there something missing? Send suggestions