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450 Pearl St, Malden, MA, 0...

MIC Pearl Property LLC. Acquires Medical Office On 450 Pearl St, Malden, MA
SOLDMedical Office

MIC Pearl Property LLC. Acquires Medical Office On 450 Pearl St, Malden, MA

450 Pearl St, Malden, MA, 02148

$2,800,000

$237/SF

Building Size

11,790 SF

Asset Type

Medical Office

Closing

Nov 22, 2023

AI

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.

Players

Stephen Nohrden

Broker

$81.5M

vol

11 deals

Broker

Malden Medical Office Market Snapshot

Boundary boundary · Medical Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93