Updated Dec 21, 2023
Mixed-use Property On 242 Main Street In Gloucester, MA Sells For $1.45M With Broker Stephen Girolamo - Horvath & Tremblay
242 Main Street, Gloucester, Massachusetts, USA
$1,452,000
$180/SF
Building Size
8,031 SF
Asset Type
Mixed-use
Closing
Mar 4, 2021
About this deal
AI
A mixed-use property located at 242 Main Street in Gloucester, MA was recently sold for a price of $1,452,000. The transaction took place on 03/05/2021 and was facilitated by broker Stephen Girolamo from Horvath & Tremblay. The property spans over 8,031 square feet, resulting in a price per square foot of $181. It consists of 11 units, with an average price per unit of $132,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,452,000
- Date: 03/05/2021
- Address: 242 Main Street, Gloucester, MA
- Market: Gloucester, MA
- Square Footage: 8,031
- Price per Square Foot: $181
- Number of Units: 11
- Price per Unit: $132,000
The sale of the property was overseen by broker Stephen Girolamo from Horvath & Tremblay. Their expertise and representation played a crucial role in successfully completing the transaction.
Gloucester Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.92%
Cash-on-Cash
-3.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93