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.
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