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215 Middlesex Turnpike

Highline Construction Acquires Industrial Building In Burlington, MA For $1.82M
SOLDIndustrial

Highline Construction Acquires Industrial Building In Burlington, MA For $1.82M

215 Middlesex Turnpike

$1,820,000

$310/SF

Building Size

5,870 SF

Asset Type

Industrial

Closing

Feb 14, 2024

AI

A 5,870-square-foot industrial/flex building located at 215 Middlesex Turnpike in Burlington, MA, has been sold to Highline Construction for $1.82 million. The property, facilitated by R.W. Holmes Commercial Real Estate, offers ample space for industrial and flexible use purposes. With a price per square foot of $310, this transaction represents a significant investment for Highline Construction.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $1,820,000
  • Square Footage: 5,870
  • Market: Burlington, MA

R.W. Holmes Commercial Real Estate played a crucial role in the sale of the property. Ray Hamel, representing Hamel & McAlister, acted as the seller, while Mike Ogasapian from R.W. Holmes Commercial Real Estate represented both the buyer, Highline Construction, and facilitated the overall transaction. This deal showcases the expertise and connections of the brokers involved, resulting in a successful transaction for all parties.

Players

Mike Ogasapian

R.W. Holmes Commercial Real Estate

Broker

$20.3M

vol

12 deals

Broker

Turnpike 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

8.72%

Cash-on-Cash

-2.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93