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
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