Matt McGovern Of McGovern Auto Acquires Office Building In Waltham For $4.1M
1345 Main Street
$4,100,000
$292/SF
Building Size
14,000 SF
Asset Type
Office
Closing
Jun 24, 2024
AI
The office building at 1345 Main Street in Waltham, MA, has been sold to Matt McGovern - McGovern Auto for $4.1 million. Spanning approximately 14,000 square feet, the property is situated on a 37,000 square foot site and dates back to the 1960s.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,100,000
- Buyer: Matt McGovern - McGovern Auto
- Square Footage: 14,000
- Price per Square Foot: $293
- Address: 1345 Main Street, Waltham, MA
- Market: Waltham, MA
The sale of the office building was facilitated by Matt McGovern of McGovern Auto, who successfully acquired the property at 1345 Main Street in Waltham. The transaction represents a significant investment in the commercial real estate market, showcasing McGovern Auto's expansion and diversification in property holdings.
Players
Waltham 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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93