Updated Oct 28, 2024
Ciminelli Real Estate Corp Acquires Industrial Property In Northborough, MA For $3.15M
104 Otis Street, Northborough, Massachusetts, USA
$3,150,000
$118/SF
Building Size
26,522 SF
Asset Type
Industrial
Closing
Sep 24, 2021
About this deal
AI
The industrial property located at 104 Otis Street in Northborough, MA has been sold for a price of $3,150,000. The property spans an area of 26,522 square feet, resulting in a price per square foot of $119. This transaction was facilitated by brokers Jon Pezzoni and Brandon Dickason from Avison Young on behalf of the buyer, Ciminelli Real Estate Corp, represented by Christopher Neelon and Ryan Zebro.
Summary of Transaction Details:
- Property Type: Industrial
- Transaction Amount: $3,150,000
- Address: 104 Otis Street, Northborough, MA
- Market: Northborough, MA
The buyer, Ciminelli Real Estate Corp, is represented by Christopher Neelon and Ryan Zebro. They teamed up with brokers Jon Pezzoni and Brandon Dickason from Avison Young to successfully complete this transaction. The seller in this deal is LT Otis LLC.
On the Map
$3,150,000
$118/SF
Industrial
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Players
Northborough 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
5.04%
Cash-on-Cash
-1.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93