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Shankh Mitra Of Welltower Sells Newburyport Medical Center For $14.65M
SOLD
$14,650,000
Massachusetts
See Similar DealsMobile Home44,000 SF
Sold 11/16/2025
SOLD
Shankh Mitra Of Welltower Sells Newburyport Medical Center For $14.65M
1 Wallace Bashaw Jr Way
See Similar DealsMobile Home44,000 SF
Sold 11/16/2025
Summary
MASSACHUSETTS
Asset Type:Mobile Home
Price Per Square Foot:$333
Total Square Footage:44,000 SF
Transaction Type:Sale
The property involved in this transaction is a medical office located at 1 Wallace Bashaw Jr Way in Newburyport, MA. The asset spans 4.5 acres and has a total square footage of 44,000. The sale price for this medical office was $14,650,000, with a price per square foot of $333.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $14,650,000
- Market: Newburyport, MA
- Seller: Shankh Mitra
- Seller's Company: Welltower
- Previous Sale Price: $27,400,000
- Previous Sale Year: 2019
Shankh Mitra represented Welltower in this transaction involving the Newburyport Medical Center. The sale reflects a significant decrease from its previous market value, indicating changes in the property’s valuation since its last sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$781,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,048.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,448.47
Annual Debt Service$833,381.69
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