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Mixed Use

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697 Hartford Turnpike

Tyler DeWolfe & Nishan Papazian Close $4.3M Sale Of Mixed-Use Property In Shrewsbury, MA
SOLDMixed-use

Tyler DeWolfe & Nishan Papazian Close $4.3M Sale Of Mixed-Use Property In Shrewsbury, MA

697 Hartford Turnpike

$4,300,000

$119/SF

Building Size

36,000 SF

Asset Type

Mixed-use

Closing

Jan 5, 2024

AI

Tyler DeWolfe and Nishan Papazian of Greater Boston Commercial Properties, Inc. closed a $4.3 million sale for the 36,000 sq. ft. multi-tenant flex building located at 697 Hartford Turnpike in Shrewsbury, MA. The property features a mixed-use asset type and is situated in the local market.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $4,300,000
  • Square Footage: 36,000 sq. ft.
  • Price per Square Foot: $119
  • Address: 697 Hartford Turnpike, Shrewsbury, MA
  • Market: Shrewsbury, MA

The seller in this transaction was 697 Hartford Turnpike, LLC. On behalf of the seller, Tyler DeWolfe and Nishan Papazian of Greater Boston Commercial Properties, Inc. represented the deal. The buyer was represented by Andy Murray of A. Murray Real Estate, LLC.

Players

Tyler DeWolfe

Greater Boston Commercial Properties

Broker

$30.7M

vol

9 deals

Broker

Shrewsbury 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

3.69%

Cash-on-Cash

-1.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93