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Nickerson of Fieldstone represents seller in $3.27M acquisition

Property Image
SOLD
$3,270,000

Massachusetts

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Industrial25,600 SF
Sold 05/23/2025
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Property Image
SOLD

Nickerson of Fieldstone represents seller in $3.27M acquisition

1771 Lock Drive

See Similar Deals
Industrial25,600 SF
Sold 05/23/2025
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Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$127
Total Square Footage:25,600 SF
Transaction Type:Sale

The property asset involved in this transaction is an industrial asset located at 1771 Lock Drive, Leominster, MA. The sale price for the property was $3,270,000, and it encompasses a total area of 25,600 square feet, resulting in a price per square foot of $127.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,270,000
  • Address: 1771 Lock Drive
  • Market: Leominster, MA
  • Square Footage: 25,600
  • Price per Square Foot: $127
  • Buyer: Michael Ellis
  • Seller: Margot Xarras
  • Buyer's Representative: Micah Stubblebine - The Stubblebine Company
  • Seller's Representative: Nate Nickerson - Fieldstone Commercial Properties

This transaction was facilitated by the buyer's representative, Micah Stubblebine of The Stubblebine Company, and the seller's representative, Nate Nickerson from Fieldstone Commercial Properties, highlighting their roles in representing their respective clients in this deal.

Players

Micah Stubblebine
16 deals$132.1M volume
BROKER

Nate Nickerson
Fieldstone Commercial Properties
13 deals$27.9M volume
BROKER

Michael Ellis
2 deals$4.4M volume
BUYER

Details

SOLD
IMAGE: Nate Nickerson, Micah Stubblebine DATE: 5/23/2025 ADDRESS: 1771 Lock Drive MARKET: Leominster, MA ASSET TYPE: Industrial BUYER: Michael Ellis SELLER: Margot Xarras BUYER'S REP: Micah Stubblebine - The Stubblebine Company SELLER'S REP: Nate Nickerson - Fieldstone Commercial Properties SALE PRICE: $3,270,000 SF: 25,600 ~ PPSF: $127

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

$174,400.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,617.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,501.47
Annual Debt Service$186,017.62