Brian Jones Acquires Industrial Asset From Louis Minicucci In Lynn For $4.3M
SOLD
$4,300,000
Massachusetts
See Similar DealsIndustrial21,560 SF
Sold
SOLD
Brian Jones Acquires Industrial Asset From Louis Minicucci In Lynn For $4.3M
150 Blossom Street
See Similar DealsIndustrial21,560 SF
Sold
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$199
Total Square Footage:21560 SF
Transaction Type:Sale
This industrial property, located at 150 Blossom Street in Lynn, MA, has a sale price of $4,300,000. The asset spans 21,560 square feet, translating to a price per square foot of $199.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,300,000
- Address: 150 Blossom Street
- Market: Lynn, MA
- Square Footage: 21,560
- Price per Square Foot: $199
- Buyer: Brian Jones
- Seller: Louis Minicucci
- Brokers: Mattias Edenkrans, Luigi Lessa & Harrison Klein - Marcus & Millichap
The transaction involved key figures including buyer Brian Jones and seller Louis Minicucci, with representation from brokers Mattias Edenkrans, Luigi Lessa, and Harrison Klein from Marcus & Millichap, facilitating the sale of the industrial asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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