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Tom Sibley And John Garofalo Of Aries Partners Acquire Industrial Property In Holbrook For $14.2M
SOLD
$14,200,000
Massachusetts
See Similar DealsIndustrial286,000 SF
Sold 10/03/2024
SOLD
Tom Sibley And John Garofalo Of Aries Partners Acquire Industrial Property In Holbrook For $14.2M
9 Mear Road & 11 Mear Road
See Similar DealsIndustrial286,000 SF
Sold 10/03/2024
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$49
Total Square Footage:286,000 SF
Transaction Type:Sale
The industrial property located at 9-11 Mear Road in Holbrook, MA, has been sold for $14.2 million. The asset encompasses 143,000 square feet and sits on over 9 acres of land, positioned approximately 3 miles from Route 24.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $14,200,000
- Square Footage: 143,000
- Address: 9-11 Mear Road
- Market: Holbrook, MA
Tom Sibley and John Garofalo represented Aries Partners in the acquisition of the property from Northern Container, highlighting the involvement of key individuals in this transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$757,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,449.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,315.24
Annual Debt Service$807,782.93
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