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Azad Legacy Partners Acquires Office Building In Needham, MA For $8.5M

Property Image
SOLD
$8,500,000
Jordan Sneider
Jeremy Freid
+ 2

Massachusetts

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Office40,000 SF
Sold 06/01/2023
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Property Image
SOLD

Azad Legacy Partners Acquires Office Building In Needham, MA For $8.5M

175 Highland Ave Needham, Ma 02494, Usa

See Similar Deals
Office40,000 SF
Sold 06/01/2023
Jordan Sneider
Jeremy Freid
+ 2
Contact now

Summary

MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$212
Total Square Footage:40,000 SF
Transaction Type:Sale

The office property located at 175 Highland Avenue in Needham, MA has been sold in a transaction. The property spans a total area of 40,000 square feet and was sold at a price of $8,500,000, resulting in a price per square foot of $213. The transaction took place on June 1, 2023.

Summary of transaction details

The sale of the property was facilitated by Tyler Capecci, Jeremy Freid, Adam Meixner, Meghan Huebner, and Jordan Sneider of 128 CRE. Their expertise and representation played a crucial role in the successful completion of the transaction.

Players

Adam Meixner
19 deals$150M volume(617) 304-6611
BROKER

Jeremy Freid
128 CRE
19 deals$150M volume(617) 959-1319
BROKER

Jordan Sneider
13 deals$129.6M volume
BROKER

Tyler Capecci
128 CRE
19 deals$150M volume(781) 640-5858
BROKER

Meghan Huebner
128 CRE
12 deals$68.1M volume(617) 916-1028
BROKER

BUYER

Details

SOLD
IMAGE: Jeremy Freid, Meghan Huebner, Adam Meixner, Jordan Sneider & Tyler Capecci DATE: 06/01/2023 ADDRESS: 175 Highland Avenue MARKET: Needham, MA ASSET TYPE: Office BUYER: Azad Legacy Partners SELLER: The Winhall Companies SELLER'S REP: Tyler Capecci, Jeremy Freid, Adam Meixner, Meghan Huebner & Jordan Sneider - 128 CRE SALE PRICE: $8,500,000 SF: 40,000 ~ PPSF: $213

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$453,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04