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6 Main Street Ext

Northeast Advisors Sells Post Office Square Mixed-Use Property In Plymouth For $3.7M
SOLDMixed-use

Northeast Advisors Sells Post Office Square Mixed-Use Property In Plymouth For $3.7M

6 Main Street Ext

$3,700,000

$182/SF

Building Size

20,263 SF

Asset Type

Mixed-use

Closing

Jun 18, 2024

AI

The property at 6 Main Street Ext in Plymouth, MA, known as Post Office Square, has been sold for $3,700,000. This mixed-use asset spans 20,263 square feet, resulting in a price per square foot of $183.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,700,000
  • Brokers: George N. Vasvatekis, Evan J. Dean & Leroy Wallace - Northeast Advisors
  • Date: 06/18/2024
  • Market: Plymouth, MA

The sale of Post Office Square was facilitated by George N. Vasvatekis, Evan J. Dean, and Leroy Wallace from Northeast Advisors. The property underwent an ambitious preservation and redevelopment effort, utilizing over $1.5 million in State and Federal Historic Rehabilitation Tax Credits. Recognized with prestigious awards such as the 2017 Paul and Niki Tsongas Awardee for "Best Main Street Development" and the 41st annual Massachusetts Historic Commission’s Preservation Award in 2019, this property has been a successful investment with a variety of tenants, including the United States Postal Service.

Players

Evan J. Dean

Northeast Advisors

Broker

$6.3M

vol

3 deals

Broker
George N. Vasvatekis
Verified Badge

George N. Vasvatekis

Coldwell Banker

Broker

$11.9M

vol

5 deals

Broker

Plymouth 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

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93