Block Properties Acquires Industrial Property In Worcester, MA For $4.2M
100 Prescott Street
$4,200,000
$60/SF
Building Size
69,000 SF
Asset Type
Industrial
Closing
Nov 3, 2023
AI
Block Properties has acquired an industrial property located at 100 Prescott Street in Worcester, MA. The transaction was facilitated by James Keogh from NAI Glickman Kovago & Jacobs, who represented the buyer. The property, previously owned by Washburn Properties, was sold for a total price of $4,200,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,200,000
- Square Footage: 69,000
- Price Per Square Foot: $61
- Address: 100 Prescott Street, Worcester, MA
- Market: Worcester, MA
Jonathan Block, representing Block Properties, acted as the buyer in this deal. Pat O’Hearn, from Washburn Properties, represented the seller. The sale of the industrial property at 100 Prescott Street marks a significant transaction in the Worcester, MA market.
Players
Worcester Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93