Updated Dec 19, 2023
Luigi Lessa & Harrison Klein Of Marcus & Millichap Boston Sell Industrial Property In Lawrence, MA For $2.9M
516 Broadway, Lawrence, MA, USA
$2,900,000
$21/SF
Building Size
135,770 SF
Asset Type
Industrial
Closing
Mar 4, 2021
About this deal
AI
An industrial property located at 516 Broadway Street in Lawrence, MA has been sold for a price of $2,900,000. The property spans across 135,770 square feet and was sold on 03/05/2021. The transaction involved a successful Sale-Leaseback, with B&M Office remaining as a tenant in the building. The buyer has future plans of redeveloping the site into apartments.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $2,900,000
- Date: 03/05/2021
- Address: 516 Broadway Street
- Market: Lawrence, MA
- Square Footage: 135,770
The sale of this industrial property was facilitated by Luigi Lessa and Harrison Klein of Marcus & Millichap Boston. They represented the buyer and seller in this transaction.
Players
Lawrence 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93