90 Sutton Street LLC Acquires Mixed-Use Property In Reading, MA For $14.75M
SOLD
$14,750,000
+ 2
Massachusetts
See Similar DealsMixed-use42,791 SF
Sold 06/28/2020
SOLD
90 Sutton Street LLC Acquires Mixed-Use Property In Reading, MA For $14.75M
475 Main St, Reading, Massachusetts, USA
See Similar DealsMixed-use42,791 SF
Sold 06/28/2020
+ 2
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$344
Total Square Footage:42,791 SF
Transaction Type:Sale
475 Main St, a mixed-use property located in Reading, MA, was recently sold in a transaction facilitated by Cushman & Wakefield. The sale took place on June 28, 2021, with BM Ventures LLC as the seller and 90 Sutton Street LLC as the buyer.
Summary of transaction details
- Property Type: Mixed-use
- Sale Price: $14,750,000
- Units: 31
- Price per Unit (PPU): $475,806
- Market: Reading, MA
The deal was successfully negotiated by the team of brokers from Cushman & Wakefield, including Jonathan Bryant, Chris Sower, John Flaherty, Bruce Lusa, and Kevin Jones. Their expertise and efforts played a crucial role in facilitating the transaction.
This successful sale of 475 Main St emphasizes the demand for mixed-use properties in Reading, MA. The property's attractive features, combined with its prime location, contributed to its market value and resulted in a sale price of $14,750,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$786,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,403.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,922.53
Annual Debt Service$839,070.30
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