Frank Lonano Purchases Mixed-Use Property At 98-100 River Street Haverhill For $1.425M
98 100 River Street
$1,425,000
$209/SF
Building Size
6,804 SF
Asset Type
Mixed-use
Closing
Apr 14, 2025
AI
The mixed-use property located at 98-100 River Street in Haverhill, MA, was sold for $1,425,000. The asset encompasses 6,804 square feet and comprises 7 units, which were sold at a price per unit of $203,571 and a price per square foot of $209.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,425,000
- Units: 7
- Square Footage: 6,804
- Price per Unit: $203,571
- Price per Square Foot: $209
- Buyer: Frank Lonano
- Seller: Mei Zhang
- Brokers: Spencer Norton & Stephen Girolamo - Horvath & Tremblay
Frank Lonano acquired the property from Mei Zhang, with the transaction facilitated by brokers Spencer Norton and Stephen Girolamo, representing Horvath & Tremblay in this deal.
Players
Haverhill 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
11.13%
Cash-on-Cash
-3.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93