Updated Sep 9, 2024
Horvath & Tremblay Brokers Facilitate $2.8M Sale Of Mixed-Use Property In Lawrence, MA
281-285 Essex Street
$2,800,000
$155/SF
Building Size
18,000 SF
Asset Type
Mixed-use
Closing
Nov 10, 2022
About this deal
AI
Located at 281-285 Essex Street in Lawrence, MA, this mixed-use property was recently sold in a closed transaction. The property spans across 18,000 square feet and consists of 16 units. The sale price for this transaction was $2,800,000, resulting in a price per square foot of $156. Each unit was sold for an average price of $175,000.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $2,800,000
- Address: 281-285 Essex Street, Lawrence, MA
- Market: Lawrence, MA
- Square Footage: 18,000 SF
- Price Per Square Foot: $156
- Units: 16
- Price Per Unit: $175,000
The sale of this property was facilitated by Dennis Kelleher, John Pentore, and Spencer Norton from Horvath & Tremblay. Their expertise and negotiation skills played a vital role in completing this successful transaction.
Players
Lawrence 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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93