Sticks Investment Group Acquires Industrial Property From Palatine Capital Partners For $8.375M
SOLD
$8,375,000
Massachusetts
See Similar DealsIndustrial58,000 SF
Sold 08/29/2024
SOLD
Sticks Investment Group Acquires Industrial Property From Palatine Capital Partners For $8.375M
54 West Dane Street
See Similar DealsIndustrial58,000 SF
Sold 08/29/2024
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$144
Total Square Footage:58,000 SF
Transaction Type:Sale
The property asset involved in this transaction is located at 54 West Dane St & 116-118 Park St, Beverly, MA. The industrial asset was sold for a transaction amount of $8,375,000, covering an area of 58,000 square feet, resulting in a price per square foot of $144.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,375,000
- Address: 54 West Dane St & 116-118 Park St
- Market: Beverly, MA
- Square Footage: 58,000
- Price per Square Foot: $144
- Buyer: Sticks Investment Group
- Seller: Palatine Capital Partners
- Broker: John Nasca - Lee & Associates
This transaction features key individuals, including the buyer, Sticks Investment Group, and the seller, Palatine Capital Partners. The representation in this deal was managed by broker John Nasca from Lee & Associates, facilitating the process between both parties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$446,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,754.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,701.77
Annual Debt Service$476,421.27
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