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100 Conifer Hill Drive, Dan...

Hoss Ventures LLC Acquires Office Condominium In Danvers, MA For $452.5K
SOLDMultiFamily

Hoss Ventures LLC Acquires Office Condominium In Danvers, MA For $452.5K

100 Conifer Hill Drive, Danvers, Massachusetts 01923, United States

$452,500

$131/SF

Building Size

3,447 SF

Asset Type

MultiFamily

Closing

Jan 26, 2022

AI

The Mega Group is pleased to announce the sale of 100 Conifer Hill Drive in Danvers, Massachusetts. The property is a 2,550 +/- square foot office condominium located in Conifer Hill Executive Park. The sale took place on January 27, 2022, with a sale price of $452,500, equating to $177.45 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $452,500
  • Address: 100 Conifer Hill Dr, Danvers, MA
  • Market: Danvers, MA

Hoss Ventures LLC acquired the property from Up Maine LLC, with Brian DApice of The Mega Group representing the buyers and Jennifer DApice representing the sellers. The transaction was completed in a marketing period of less than 30 days. Hoss Ventures LLC will be relocating their development firm from Lynnfield to this new location.

Jennifer DApice noted that the subject property was previously owned and operated by Stelman Law, which recently merged with Standard Title & Escrow. Stelman Law was a full-service Massachusetts-based law practice specializing in commercial and residential real estate. Attorney Jeff Stelman has joined Standard Title & Escrow, a firm with offices in Massachusetts, Florida, and Arizona, providing representation to buyers, sellers, banks, and mortgage companies in real estate transactions.

The Mega Group, based in Danvers, MA, is a full-service commercial real estate firm operating in the greater metropolitan Boston area, coastal New Hampshire, and southern Maine. Founded in 1997, The Mega Group primarily assists investors and property owners in fulfilling their commercial real estate needs.

Players

Brian DApice

The Mega Group

Broker

$50.3M

vol

16 deals

Broker
Nordlund Associates
Nordlund AssociatesBrokerage

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

35.06%

Cash-on-Cash

-10.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93