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104 Otis Street, Northborou...

Ciminelli Real Estate Corp Acquires Industrial Property In Northborough, MA For $3.15M
SOLDIndustrial

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

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.

Players

Jon Pezzoni

Avison Young

Broker

$6M

vol

3 deals

Broker

Christopher Neelon

Buyer

$15.6M

vol

2 deals

Buyer

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