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
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