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55 Phoenix Avenue

Aho Properties Sells Three-Property Industrial Portfolio On Phoenix Ave For $4.7M
SOLDIndustrial

Aho Properties Sells Three-Property Industrial Portfolio On Phoenix Ave For $4.7M

55 Phoenix Avenue, 75 Phoenix Avenue & 77 Phoenix Avenue

$4,700,000

$48/SF

Building Size

96,615 SF

Asset Type

Industrial

Closing

Dec 1, 2023

AI

Joel Aho, President of Aho Properties, successfully orchestrated the $4.7 million sale of a three-property industrial portfolio on Phoenix Ave in Lowell, MA. The combined properties amount to 32,205 square feet, with an average price per square foot of $146.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $4,700,000
  • Square Footage: 32,205
  • Price per Square Foot: $146
  • Address: 55 Phoenix Avenue, 75 Phoenix Avenue & 77 Phoenix Avenue, Lowell, MA
  • Market: Lowell, MA

Tina Habeeb from The Royal Companies represented the buyer, while Joel Aho from Aho Properties represented the seller in this successful transaction.

Players

Joel Aho

Aho Properties

Broker

$42.4M

vol

17 deals

Broker

Lowell 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

3.38%

Cash-on-Cash

-0.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93