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
Lowell Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
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