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1345 Main Street

Matt McGovern Of McGovern Auto Acquires Office Building In Waltham For $4.1M
SOLDOffice

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