JLCD Development LLC Acquires Mixed-Use Property In Dorchester For $4.8M
SOLD
$4,800,000
Massachusetts
See Similar DealsMixed-use225,260 SF
Sold 04/03/2020
SOLD
JLCD Development LLC Acquires Mixed-Use Property In Dorchester For $4.8M
554 Columbia Rd, Boston, MA 02125, USA
See Similar DealsMixed-use225,260 SF
Sold 04/03/2020
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$21
Total Square Footage:225,260 SF
Transaction Type:Sale
A mixed-use property located at 554-562 Columbia Road in Dorchester has recently been sold. The property, spanning 22,526 square feet, was sold for a total price of $4,800,000. This translates to a price per square foot of $213. The transaction involved the sale of 21 units, resulting in a price per unit of $228,571. The seller of the property was Nicholas Verenis.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $4,800,000
- Square Footage: 22,526
- Price per Square Foot: $213
- Number of Units: 21
- Price per Unit: $228,571
The buyer of the property was JLCD Development LLC, represented by Mike Rooney. The transaction was facilitated by Drew Kirkland and Tim McGeary from NortheastPCG.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$256,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,053.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,754.45
Annual Debt Service$273,053.39
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