Jeremy Procon Acquires Mixed-Use Property From Michael J Staiti In Sturbridge For $1.8M
365 Main Street
$1,800,000
$180/SF
Building Size
9,982 SF
Asset Type
Mixed-use
Closing
May 14, 2025
AI
The asset involved in this transaction is a mixed-use property located at 365 Main Street, Sturbridge, MA. The sale price of the property was $1,800,000, which equates to $200,000 per unit across its 9 units. The total square footage of the property is 9,982, resulting in a price per square foot of $180.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,800,000
- Units: 9
- Price Per Unit: $200,000
- Square Footage: 9,982
- Price Per Square Foot: $180
- Buyer: Jeremy Procon
- Seller: Michael J Staiti
- Brokers: Jeremy Casey - SR Commercial Realty
- Brokers: Tim Whittredge - NAI Global
- Date of Transaction: 5/15/2025
The key individuals involved in this transaction include the buyer, Jeremy Procon, and the seller, Michael J Staiti. The brokerage representation in the deal was provided by Jeremy Casey from SR Commercial Realty and Tim Whittredge from NAI Global, indicating collaboration between two established agencies in managing this transaction.
Players
Sturbridge Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93