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1130 Eastern Ave. LLC Acquires 12,494 SF Industrial Property In Malden, MA For $2.4M

Property Image
SOLD
$2,400,000
Daniel Dewing
Steve Nohrden

Massachusetts

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Industrial12,494 SF
Sold 05/05/2023
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Property Image
SOLD

1130 Eastern Ave. LLC Acquires 12,494 SF Industrial Property In Malden, MA For $2.4M

1130 Eastern Ave Malden, Ma 02148, Usa

See Similar Deals
Industrial12,494 SF
Sold 05/05/2023
Daniel Dewing
Steve Nohrden
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$192
Total Square Footage:12,494 SF
Transaction Type:Sale

Burgess Properties has brokered the sale of a 12,494 square foot building on 0.44 acres in Malden, MA. The property, located at 1130 Eastern Ave., was purchased by 1130 Eastern Ave. LLC for $2.4 million. The transaction included renovations to the building, including a new roof, overhead doors, windows, and a potential expansion to 15,400 square feet.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $2,400,000
  • Square Footage: 12,494
  • Price per Square Foot: $192
  • Address: 1130 Eastern Avenue, Malden, MA
  • Market: Malden, MA

The buyer, 1130 Eastern Ave. LLC, is a subsidiary of Malden-based United Properties. The seller's representative in the deal was Daniel Dewing from Boston Realty Advisors. The buyer was represented by Steve Nohrden from Burgess Properties, LLC.

Players

Daniel Dewing
Boston Realty Advisors
Daniel Dewing
5 deals$15.8M volume(617) 850-9620
BROKER
Steve Nohrden
Burgess Properties
Steve Nohrden
8 deals$27.4M volume
BROKER

Details

SOLD
IMAGE: Daniel Dewing & Steve Nohrden DATE: 05/05/2023 ADDRESS: 1130 Eastern Avenue MARKET: Malden, MA ASSET TYPE: Industrial BUYER: 1130 Eastern Ave. LLC BUYER'S REP: Steve Nohrden - Burgess Properties, LLC SELLER'S REP: Daniel Dewing - Boston Realty Advisors SALE PRICE: $2,400,000 SF: 12,494 ~ PPSF: $192 NOTE: Burgess Properties has brokered the sale of a 12,494 s/f building on 0.44 acres in Malden, MA, for $2.4 million. The visible property, located at 1130 Eastern Ave., was purchased by 1130 Eastern Ave. LLC, a subsidiary of Malden-based United Properties, and will undergo renovation including a new roof, overhead doors, windows, and possible expansion to 15,400 s/f.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$127,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,526.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,377.22
Annual Debt Service$136,526.69