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2 Spratt Technology Drive, ...

Marcus & Millichap Boston Brokers Sell Industrial Property In Sterling, MA For $1.5M
SOLDIndustrial

Marcus & Millichap Boston Brokers Sell Industrial Property In Sterling, MA For $1.5M

2 Spratt Technology Drive, Sterling, MA 01564

$1,500,000

$83/SF

Building Size

18,000 SF

Asset Type

Industrial

Closing

Jul 15, 2020

AI

An industrial property located at 2 Spratt Technology Drive in Sterling, MA has been sold for $1,500,000. The property spans 18,000 square feet, resulting in a price per square foot of $83. The transaction took place on July 15, 2021, with Harrison Klein and Mark Lyman of Marcus & Millichap Boston representing the parties involved.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $1,500,000
  • Address: 2 Spratt Technology Drive, Sterling, MA
  • Market: Sterling, MA
  • SF: 18,000
  • PPSF: $83

Harrison Klein and Mark Lyman, both from Marcus & Millichap Boston, played a vital role in facilitating this deal.

Players

Harrison Klein

Marcus & Millichap

Broker

$177.2M

vol

47 deals

Broker

Sterling 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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93