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Multifamily Property Sold In Methuen, MA For $2M: Buyer Represented By Maureen Collins And Seller Represented By Laurence Marocco

Property Image
SOLD
$2,000,000
Laurence Marocco
Maureen Collins

Massachusetts

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MultiFamily13,772 SF
Sold 08/21/2023
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Property Image
SOLD

Multifamily Property Sold In Methuen, MA For $2M: Buyer Represented By Maureen Collins And Seller Represented By Laurence Marocco

262 Broadway Methuen, Ma 01844, Usa

See Similar Deals
MultiFamily13,772 SF
Sold 08/21/2023
Laurence Marocco
Maureen Collins
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$145
Total Square Footage:13,772 SF
Transaction Type:Sale

A multifamily property located at 262-266 Broadway in Methuen, MA, was sold on August 21st, 2023 for $2 million. The property spans a total of 13,772 square feet and achieved a price per square foot of $145.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,000,000
  • Address: 262-266 Broadway, Methuen, MA
  • Market: Methuen, MA
  • Buyer's Representative: Maureen Collins - William Raveis Real Estate
  • Seller's Representative: Laurence Marocco - Minco Commercial
  • Square Footage: 13,772
  • Price per Square Foot: $145

The buyer's representative in this transaction was Maureen Collins, from William Raveis Real Estate, while the seller's representative was Laurence Marocco from Minco Commercial.

Players

Laurence Marocco
Minco Development Corporation
Laurence Marocco
1 deal$2M volume
BROKER
Maureen Collins
William Raveis Real Estate
Maureen Collins
1 deal$2M volume(978) 886-7679
BROKER

Details

SOLD
IMAGE: Laurence Marocco & Maureen Collins DATE: 08/21/2023 ADDRESS: 262-266 Broadway MARKET: Methuen, MA ASSET TYPE: Multifamily BUYER'S REP: Maureen Collins - William Raveis Real Estate (@WilliamRaveis) SELLER'S REP: Laurence Marocco - Minco Commercial SALE PRICE: $2,000,000 SF: 13,772 ~ PPSF: $145 NOTE: On August 21st, 2023, a multifamily property located at 262-266 Broadway in Methuen, MA, was sold for $2 million. The property, spanning 13,772 square feet, achieved a price per square foot of $145.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$106,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24