Kevin Johnson Of Realty20 Represents Buyer In Sale Of Mixed-Use Building In Salem For $1.1M
99 North Street
$1,100,000
$187/SF
Building Size
5,866 SF
Asset Type
Mixed-use
Closing
Sep 13, 2024
AI
A mixed-use building located at 99 North Street in Salem, MA, has been sold for $1,100,000. The asset comprises two 4-bedroom residential units and two retail spaces, totaling 5,866 square feet with a price per square foot of $188.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,100,000
- Units: 2
- Price Per Unit: $550,000
- Square Footage: 5,866
- Price Per Square Foot: $188
- Buyer's Representative: Kevin Johnson - Realty20
- Seller's Representative: Debra Lovelace - Churchill Properties
Kevin Johnson represented the buyer, while Debra Lovelace represented the seller in this transaction, highlighting their roles in facilitating the sale of the property in the Salem market.
Players
Salem 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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93