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155 Airport Road

Airport CTC LLC Sells Office Building In Fitchburg Massachusetts For $1.75M
SOLDOffice

Airport CTC LLC Sells Office Building In Fitchburg Massachusetts For $1.75M

155 Airport Road

$1,750,000

$350/SF

Building Size

5,000 SF

Asset Type

Office

Closing

Jan 22, 2025

AI

The property involved in the transaction is an office building located at 155 Airport Road in Fitchburg, MA. The asset spans 5,000 square feet and is situated on one acre of land. The sale price for the property was $1,750,000, translating to a price per square foot of $350.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,750,000
  • Square Footage: 5,000 SF
  • Address: 155 Airport Road
  • Market: Fitchburg, MA
  • Seller: Airport CTC LLC
  • Broker: O’Brien Commercial Properties
  • PPSF: $350

O’Brien Commercial Properties represented the seller, Airport CTC LLC, in the transaction. The office building is leased long-term to Habit Opco, LLC, which operates a substance abuse treatment clinic serving over 2,000 patients daily.

Players

O'Brien Commercial Properties
O'Brien Commercial PropertiesBrokerage

Fitchburg 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

9.06%

Cash-on-Cash

-2.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93