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100 Prescott Street

Block Properties Acquires Industrial Property In Worcester, MA For $4.2M
SOLDIndustrial

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

James Keogh

NAI Global

Broker

$45.9M

vol

8 deals

Broker

Jonathan Block

Buyer

$9.2M

vol

2 deals

Buyer
RP
RJ Block PropertiesBuyer

Worcester Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

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