Hakim Sadler Of MIG Realty Sells Lynn Package Deal For $12.6M
38 Estes St, Lynn, Massachusetts, USA
$12,600,000
$499/SF
Building Size
25,222 SF
Asset Type
Mixed-use
Closing
Nov 1, 2021
AI
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
Lynn 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
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93