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524 Route 6a

George N. Vasvatekis Acquires Mixed-Use Property At 524 Route 6a In Dennis, MA For $1.38M
SOLDMixed-use

George N. Vasvatekis Acquires Mixed-Use Property At 524 Route 6a In Dennis, MA For $1.38M

524 Route 6a

$1,375,000

$286/SF

Building Size

4,792 SF

Asset Type

Mixed-use

Closing

Oct 17, 2022

AI

524 Route 6a in Dennis, MA has been sold in a mixed-use transaction for $1,375,000. The property spans across 4,792 square feet, resulting in a price per square foot of $287. The buyer is George N. Vasvatekis, while the seller is Mark Flanagan. The sale was facilitated by Evan J. Dean of Northeast Advisors, Inc.

Summary of transation details

  • Property Type: Mixed-Use
  • Transaction Amount: $1,375,000
  • Address: 524 Route 6a, Dennis, MA
  • Square Footage: 4,792 sqft
  • Price per Square Foot: $287
  • Buyer: George N. Vasvatekis
  • Seller: Mark Flanagan
  • Broker: Evan J. Dean - Northeast Advisors, Inc

A truly unique Dennis Village gem, 524 Route 6a is home to the Borsari Gallery, a private event venue, art gallery, and residence. This historic property has caught the attention of George N. Vasvatekis, who saw its potential. Evan J. Dean from Northeast Advisors, Inc represented Vasvatekis in this transaction, helping to secure this special piece of real estate.

Players

Evan J. Dean

Northeast Advisors

Broker

$6.3M

vol

3 deals

Broker

Dennis 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

11.54%

Cash-on-Cash

-3.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93