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
Malden Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
Loading comparables…
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