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475 Main St, Reading, Massa...

Updated Oct 28, 2024

90 Sutton Street LLC Acquires Mixed-Use Property In Reading, MA For $14.75M
SOLDMixed-use

90 Sutton Street LLC Acquires Mixed-Use Property In Reading, MA For $14.75M

475 Main St, Reading, Massachusetts, USA

$14,750,000

$344/SF

Building Size

42,791 SF

Asset Type

Mixed-use

Closing

Jun 28, 2020

About this deal

AI

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.

Players

Bruce Lusa

Cushman & Wakefield

Broker

$899.9M

vol

62 deals

Broker

Reading Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $344 per square foot on a published $14.8M for 42,791 square feet (2020).

Visit Kevin Jones to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.08%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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