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

Property Image
SOLD
$1,800,000

Massachusetts

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Mixed-use65,000 SF
Sold 01/12/2022
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Property Image
SOLD

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

51 Gage Street, Worcester, MA 01605

See Similar Deals
Mixed-use65,000 SF
Sold 01/12/2022
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Summary

MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$27
Total Square Footage:65,000 SF
Transaction Type:Sale

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
8 deals$45.9M volume(774) 239-5151
BROKER

Tyler DeWolfe
Greater Boston Commercial Properties
9 deals$30.7M volume
BROKER

Details

SOLD
IMAGE: James Keogh & Tyler Dewolfe DATE: 01/12/2022 ADDRESS: 51 Gage Street MARKET: Worcester, MA ASSET TYPE: Mixed use BUYER: African Community Education SELLER: Learning First Foundation BUYER'S REP: James Keogh - NAI Glickman Kovago & Jacobs SELLER'S REP: Tyler Dewolfe - Greater Boston Commercial Properties SALE PRICE: $1,800,000 SF: 65,000 ~ PPSF: $28

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02