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710 Liberty Street

Updated Dec 21, 2024

Hutton Springfield MA ST LLC Acquires Development Site In Springfield Massachusetts For $1.1M
SOLDDevelopment Site

Hutton Springfield MA ST LLC Acquires Development Site In Springfield Massachusetts For $1.1M

710 Liberty Street

$1,100,000

Building Size

Asset Type

Development Site

Closing

Dec 13, 2024

About this deal

AI

710 Liberty Street is a development site comprising 1.04 acres located in Springfield, MA. The property was sold for $1,100,000 as part of a transaction aimed at repurposing a former funeral home into a car wash facility after zoning changes and special permits were secured.

Summary of transaction details:

Jennings Real Estate Services played a crucial role in facilitating the transaction, ensuring all necessary zoning changes and permits were in place for the redevelopment project.

Players

Kevin Jennings

Jennings Real Estate Services

Broker

$7M

vol

4 deals

Broker

Springfield 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

14.42%

Cash-on-Cash

-4.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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