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1019 Iyannough Road

NNN Pro Group & Horvath & Tremblay Facilitate $7.35M Sale Of Hyannis Office
SOLDOffice

NNN Pro Group & Horvath & Tremblay Facilitate $7.35M Sale Of Hyannis Office

1019 Iyannough Road

$7,350,000

$270/SF

Building Size

27,210 SF

Asset Type

Office

Closing

Mar 28, 2024

AI

The office property located at 1019 Iyannough Road in Hyannis, MA was sold for $7,350,000. Spanning across 27,210 square feet, the property was fully occupied at the time of the transaction. The asset, which had a price per square foot of $270, was a valuable investment opportunity.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $7,350,000
  • Address: 1019 Iyannough Road
  • Market: Hyannis, MA
  • Square Footage: 27,210

The deal was facilitated by Brian Ahrens from Horvath & Tremblay, representing the buyer. On the other side, the seller was represented by a team consisting of Josh Kanter, Glen Kunofsky, Anthony D'Ambrosia, and Evan Griffith from NNN Pro Group. The property was 100% leased to Cape Cod Hospital and two non-profit medical tenants, underlining its stability and attractiveness in the market.

Players

Evan Griffith

Marcus & Millichap

Broker

$388M

vol

65 deals

Broker

Hyannis Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.16%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93