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Hakim Sadler Of MIG Realty Sells Lynn Package Deal For $12.6M

Property Image
SOLD
$12,600,000

Massachusetts

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Mixed-use25,222 SF
Sold 11/01/2021
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Property Image
SOLD

Hakim Sadler Of MIG Realty Sells Lynn Package Deal For $12.6M

38 Estes St, Lynn, Massachusetts, USA

See Similar Deals
Mixed-use25,222 SF
Sold 11/01/2021
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Summary

MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$499
Total Square Footage:25,222 SF
Transaction Type:Sale

The package deal comprising 38 Estes St, 44 Estes St, 8-10 Fortesque Ter, 12-14 Fortesque Ter, and 32 Chestnut St in Lynn, MA was recently sold in a closed transaction. The sale was facilitated by Hakim Sadler from MIG Realty. The transaction took place on 11/01/2021.

Summary of transaction details

  • Property Type: Package Deal
  • Transaction Amount: $12,600,000
  • Market: Lynn, MA
  • Square Footage: 25,222 SF
  • Price per Square Foot: $500

The package deal, which sold for $12,600,000, included properties located at 38 Estes St, 44 Estes St, 8-10 Fortesque Ter, 12-14 Fortesque Ter, and 32 Chestnut St. The total square footage of the properties is 25,222 SF, resulting in a price per square foot of $500. The deal was brokered by Hakim Sadler from MIG Realty. This transaction showcases the strength of the real estate market in Lynn, MA.

Players

Hakim Sadler
34 deals$68.3M volume
BROKER

Boston Trust Realty Group
BROKERAGE

Details

SOLD
IMAGE: Hakim Sadler DATE: 11/01/2021 ADDRESS: 38 Estes St, 44 Estes St, 8-10 Fortesque Ter, 12-14 Fortesque Ter, & 32 Chestnut St MARKET: Lynn, MA ASSET TYPE: Package Deal BROKER: Hakim Sadler - MIG Realty (@MIGRealty) SALE PRICE: $12,600,000 SF: 25,222 ~ PPSF: $500

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$672,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,765.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,730.43
Annual Debt Service$716,765.14