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Kevin Johnson Of Realty20 Represents Buyer In Sale Of Mixed-Use Building In Salem For $1.1M
SOLD
$1,100,000
Massachusetts
See Similar DealsMixed-use5,866 SF
Sold 09/13/2024
SOLD
Kevin Johnson Of Realty20 Represents Buyer In Sale Of Mixed-Use Building In Salem For $1.1M
99 North Street
See Similar DealsMixed-use5,866 SF
Sold 09/13/2024
Summary
MASSACHUSETTS
Asset Type:Mixed-use
Price Per Square Foot:$187
Total Square Footage:5,866 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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