Frank Lonano Purchases Mixed-Use Property At 98-100 River Street Haverhill For $1.425M
SOLD
$1,425,000
Massachusetts
See Similar DealsMixed-use6,804 SF
Sold 04/14/2025
SOLD
Frank Lonano Purchases Mixed-Use Property At 98-100 River Street Haverhill For $1.425M
98 100 River Street
See Similar DealsMixed-use6,804 SF
Sold 04/14/2025
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$209
Total Square Footage:6,804 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$76,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,062.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,755.23
Annual Debt Service$81,062.72
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