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Shannon Life Sciences Acquires Mixed-Use Building In Watertown For $55.69 Million
SOLD
$55,691,512
Massachusetts
See Similar DealsMixed-use74,670 SF
Sold 07/25/2024
SOLD
Shannon Life Sciences Acquires Mixed-Use Building In Watertown For $55.69 Million
23 Elm Street
See Similar DealsMixed-use74,670 SF
Sold 07/25/2024
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$745
Total Square Footage:74,670 SF
Transaction Type:Sale
A mixed-use asset located at 23 Elm Street in Watertown, MA, has been sold. This property measures 74,670 square feet and was acquired for $55,691,512, reflecting a price per square foot of $746.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $55,691,512
- Address: 23 Elm Street
- Market: Watertown, MA
- Square Footage: 74,670
- Price per Square Foot: $746
- Buyer: Shannon Life Sciences
- Brokers: Robert Griffin, Edward Maher & Matthew Pullen - Newmark
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,970,213.97
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$197,860.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$264,006.18
Annual Debt Service$3,168,074.15
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