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180 Main Street, Worcester,...

Updated Dec 20, 2023

Harrison Klein Of Marcus & Millichap Sells Office Building In Worcester, MA For $5M
SOLDOffice

Harrison Klein Of Marcus & Millichap Sells Office Building In Worcester, MA For $5M

180 Main Street, Worcester, Massachusetts 01608, United States

$5,000,000

$109/SF

Building Size

45,634 SF

Asset Type

Office

Closing

Feb 6, 2022

About this deal

AI

The property transaction that recently took place involved an office building located at 180 Main St in Worcester, MA. The property was sold for a price of $5,000,000. It spans across an area of 45,634 square feet, resulting in a price per square foot of $110. The sale was facilitated by broker Harrison Klein from Marcus & Millichap. Our exclusive marketing process generated significant interest, leading to four offers within a forty-five day marketing period. The property ultimately sold for 97% of the asking price.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,000,000
  • Address: 180 Main St, Worcester, MA
  • Market: Worcester, MA
  • Square Footage: 45,634
  • Price per Square Foot: $110
  • Broker: Harrison Klein - Marcus & Millichap

This successful sale was made possible by Harrison Klein of Marcus & Millichap who represented the seller in the transaction. Through our targeted marketing efforts, we generated significant interest within a short period of time, resulting in multiple competitive offers. This demonstrated the strong demand for office space in Worcester, MA. The property ultimately sold for 97% of the asking price, highlighting its appeal to potential buyers.

Players

Harrison Klein

Marcus & Millichap

Broker

$177.2M

vol

47 deals

Broker

Clinton Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $109 per square foot on a published $5M for 45,634 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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