Westport Properties & Heitman Acquires Industrial Property In Needham, MA For $25.1M
SOLD
$25,100,000
Massachusetts
See Similar DealsIndustrial82,328 SF
Sold 01/08/2021
SOLD
Westport Properties & Heitman Acquires Industrial Property In Needham, MA For $25.1M
540 Hillside Avenue, Needham, MA, USA
See Similar DealsIndustrial82,328 SF
Sold 01/08/2021
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$304
Total Square Footage:82,328 SF
Transaction Type:Sale
The industrial property located at 540 Hillside Avenue in Needham, MA has been sold for a price of $25,100,000. The property sits on approximately 2 acres of land, resulting in a price per acre of $12,550,000. The sale took place on January 8, 2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $25,100,000
- Address: 540 Hillside Avenue, Needham, MA
- Market: Needham, MA
The property was sold by SSG Development and purchased by Westport Properties & Heitman, represented by Charles Byerly. The deal was facilitated by Charles Byerly, who acted as the buyer's representative in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,338,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$89,174.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,986.81
Annual Debt Service$1,427,841.67
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