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Industrial

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21 Barker Road

Updated Oct 29, 2024

Wedgewood Weddings Acquires Industrial Wedding Venue In Scituate, MA For $2.5M
SOLDIndustrial

Wedgewood Weddings Acquires Industrial Wedding Venue In Scituate, MA For $2.5M

21 Barker Road

$2,500,000

$257/SF

Building Size

9,700 SF

Asset Type

Industrial

Closing

Feb 28, 2023

About this deal

AI

The industrial property located at 21 Barker Road in Scituate, MA has been sold. The property, which serves as a wedding venue, was sold for a total price of $2,500,000. It encompasses a total area of 9,700 square feet, resulting in a price per square foot of $258.

Summary of transaction details

  • Property Type: Industrial (Wedding Venue)
  • Transaction Amount: $2,500,000
  • Address: 21 Barker Road, Scituate, MA
  • Market: Scituate, MA
  • Buyer: Wedgewood Weddings
  • Seller: The Barker Tavern
  • Broker: Mark Richard - Corbett Restaurant Group
  • Square Footage: 9,700
  • Price per Square Foot: $258

Wedgewood Weddings served as the buyer in this transaction, acquiring the industrial property. The seller of the property was The Barker Tavern. Mark Richard from Corbett Restaurant Group acted as the broker representing Wedgewood Weddings. This successful sales transaction reflects the demand for industrial properties with a specific focus on wedding venues in the Scituate, MA market.

Players

Mark Richards

Corbett Restaurant Group

Broker

$2.5M

vol

1 deal

Broker

Market Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $257 per square foot on a published $2.5M for 9,700 square feet (2023).

Visit Corbett Restaurant Group to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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