Marcus Partners Acquires 14.7 Acre Multifamily Development Site In North Attleboro For $6.61M
SOLD
$6,608,750
+ 1
Massachusetts
See Similar DealsMultiFamily640,332 SF
Sold 06/13/2025
SOLD
Marcus Partners Acquires 14.7 Acre Multifamily Development Site In North Attleboro For $6.61M
582 Kelley Boulevard
See Similar DealsMultiFamily640,332 SF
Sold 06/13/2025
+ 1
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$10
Total Square Footage:640,332 SF
Transaction Type:Sale
582 Kelley Boulevard is a multifamily development site located in North Attleboro, MA, covering 14.7 acres. The property was sold for $6,608,750, resulting in a price per unit of $21,739, with a total of 304 units available on the site. The price per acre amounts to $449,574.83.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,608,750
- Units: 304
- Acres: 14.7
- Price Per Unit: $21,739
- Price Per Acre: $449,574.83
- Buyer: Marcus Partners
- Seller: Matthew Geminiani
- Seller's Representative: David Linehan, Jeremy Freid, Tyler Capecci & Adam Meixner - 128 CRE
The transaction was facilitated by Marcus Partners acquiring the development site, with support from the 128 CRE brokerage team, which includes four representatives aiding in the deal execution.
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BROKERAGE
BUYER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$352,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,479.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,328.85
Annual Debt Service$375,946.16
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