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51 Gage Street, Worcester, ...

African Community Education Acquires Mixed-Use Property On Gage Street In Worcester, MA For $1.8M
SOLDMixed-use

African Community Education Acquires Mixed-Use Property On Gage Street In Worcester, MA For $1.8M

51 Gage Street, Worcester, MA 01605

$1,800,000

$27/SF

Building Size

65,000 SF

Asset Type

Mixed-use

Closing

Jan 12, 2022

AI

Located at 51 Gage Street in Worcester, MA, this mixed-use property was recently sold for $1,800,000. Spanning a total area of 65,000 square feet, the property was purchased by African Community Education from Learning First Foundation.

Summary of transaction details

  • Property Type: Mixed use
  • Transaction Amount: $1,800,000
  • Address: 51 Gage Street, Worcester, MA
  • Market: Worcester, MA

Representing the buyer, African Community Education, James Keogh of NAI Glickman Kovago & Jacobs played a key role in facilitating the transaction. On the other hand, Tyler Dewolfe from Greater Boston Commercial Properties represented the seller, Learning First Foundation. With a price per square foot of $28, this sale marks a significant transaction in the Worcester market.

Players

James Keogh

NAI Global

Broker

$45.9M

vol

8 deals

Broker

Worcester 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