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5-7 Ray Avenue

Hub Building Maintenance Acquires Industrial/Flex Building In Burlington, MA For $1.845M
SOLDIndustrial

Hub Building Maintenance Acquires Industrial/Flex Building In Burlington, MA For $1.845M

5-7 Ray Avenue

$1,845,000

$335/SF

Building Size

5,500 SF

Asset Type

Industrial

Closing

Dec 15, 2023

AI

R.W. Holmes Commercial Real Estate facilitated the sale of a 5,500-square-foot industrial/flex building located at 5-7 Ray Avenue in Burlington, MA. The property was sold to Hub Building Maintenance for a total price of $1,845,000, resulting in a price per square foot of $335.

Summary of transaction details

This transaction signifies the successful collaboration between R.W. Holmes Commercial Real Estate and Hub Building Maintenance. Mike Ogasapian from R.W. Holmes represented the buyer, while Benjamin Gatti from Greater Boston Commercial Properties represented the seller. The sale of this industrial/flex building marks a significant milestone for both parties involved.

It is worth noting that Hub Building Maintenance acquired the property for their business operations in Burlington, MA, further enhancing their presence in the industrial sector.

Players

Benjamin Gatti

Greater Boston Commercial Properties

Broker

$51.7M

vol

14 deals

Broker

Burlington 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

8.60%

Cash-on-Cash

-2.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93