State St. Realty LLC Acquires Office Property In Woburn, MA For $7.4M
SOLD
$7,400,000
Massachusetts
See Similar DealsOffice50,000 SF
Sold 10/09/2020
SOLD
State St. Realty LLC Acquires Office Property In Woburn, MA For $7.4M
10 State St, Woburn, MA 01801, USA
See Similar DealsOffice50,000 SF
Sold 10/09/2020
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$148
Total Square Footage:50,000 SF
Transaction Type:Sale
Ten State Street LLC and K&L Realty LLC, represented by George K. Tonna, sold the office property located at 10 State Street in Woburn, MA. The buyer, State St. Realty LLC, acquired the property for a sale price of $7,400,000. The asset spans 50,000 square feet, resulting in a price per square foot of $148.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,400,000
- Address: 10 State Street, Woburn, MA
- Market: Woburn, MA
- Seller: Ten State Street LLC & K&L Realty LLC – George K. Tonna
- Buyer: State St. Realty LLC
- Broker: Mike Ogasapian – R.W. Holmes
- Square Footage: 50,000
- Price Per Square Foot: $148
Mike Ogasapian, representing R.W. Holmes, served as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$394,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,290.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,079.78
Annual Debt Service$420,957.30
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