MIC Pearl Property LLC. Acquires Medical Office On 450 Pearl St, Malden, MA
SOLD
$2,800,000
Massachusetts
See Similar DealsMedical Office11,790 SF
SOLD
MIC Pearl Property LLC. Acquires Medical Office On 450 Pearl St, Malden, MA
450 Pearl St, Malden, MA, 02148
See Similar DealsMedical Office11,790 SF
Summary
MASSACHUSETTS
Asset Type:Medical Office
Price Per Square Foot:$237
Total Square Footage:11790 SF
Transaction Type:Sale
The medical office building located at 450 Pearl St in Malden, MA, spans 11,790 square feet with 70 parking spaces. The property was sold for $2,800,000.00. The transaction involved the buyer, MIC Pearl Property LLC, and was brokered by Steve Nohrden of Burgess Properties.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $2,800,000.00
- Address: 450 Pearl St, Malden, MA, 02148
- Market: Malden
- Buyer's Representative: Stephen (Steve) Nohrden - Burgess Properties Inc.
- Seller: Unknown
- Square Footage: 11,790
The $2.8 million sale of the medical office building at 450 Pearl St in Malden was facilitated by Burgess Properties Inc. The transaction involved an undisclosed seller and MIC Pearl Property LLC as the buyer. Steve Nohrden of Burgess Properties represented the buyer in the deal, bringing together the involved parties for the successful sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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