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Bodhi Spa Acquires Office Property In Norwood, MA For $1.45M
SOLD
$1,450,000
Massachusetts
See Similar DealsOffice8,770 SF
Sold 12/01/2023
SOLD
Bodhi Spa Acquires Office Property In Norwood, MA For $1.45M
10 Cottage Street
See Similar DealsOffice8,770 SF
Sold 12/01/2023
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$165
Total Square Footage:8,770 SF
Transaction Type:Sale
Bodhi Spa, a hydrotherapy day spa, has acquired a new office space at 10 Cottage Street in Norwood, MA. The property was purchased for $1.45 million and spans 8,770 square feet. The sale price per square foot is $165.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,450,000
- Square Footage: 8,770
- Address: 10 Cottage Street, Norwood, MA
- Market: Norwood, MA
This transaction marks the third establishment for Bodhi Spa, which already has locations in Providence and Newport, R.I. The acquisition of the new office space was facilitated by Ellen Fantini Cullinan from Freudenheim Partners, who represented Bodhi Spa in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,151.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,873.74
Annual Debt Service$82,484.88
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