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Massachusetts

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Mixed Use

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365 Main Street

Jeremy Procon Acquires Mixed-Use Property From Michael J Staiti In Sturbridge For $1.8M
SOLDMixed-use

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:

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

Jeremy Casey

SR Commercial Realty

Broker

$14.3M

vol

6 deals

Broker

Sturbridge 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

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93