Nickerson of Fieldstone represents seller in $3.27M acquisition
1771 Lock Drive
$3,270,000
$127/SF
Building Size
25,600 SF
Asset Type
Industrial
Closing
May 22, 2025
AI
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
Leominster 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
4.85%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93