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Massachusetts

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Industrial

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Sale

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1771 Lock Drive

Nickerson of Fieldstone represents seller in $3.27M acquisition
SOLDIndustrial

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

Micah Stubblebine

The Stubblebine Company

Broker

$132.1M

vol

16 deals

Broker
Michael Ellis

Michael Ellis

Buyer

$4.4M

vol

2 deals

Buyer

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