Gordon Brothers Acquires Office In Wilmington, MA For $33.75M
SOLD
$33,750,000
Massachusetts
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Sold
SOLD
Gordon Brothers Acquires Office In Wilmington, MA For $33.75M
181 Ballardvale Street, Wilmington, Massachusetts 01887, United States
See Similar DealsOffice
Sold
Summary
MASSACHUSETTS
Asset Type:Office
Transaction Type:Sale
Located at 181 & 187 Ballardvale Street in Wilmington, MA, this office property spans across 15.38 acres. The transaction took place on January 27, 2022, and the property was sold for a total of $33,750,000. The office space measures 210,945 square feet, resulting in a price per square foot of $160.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $33,750,000
- Address: 181 & 187 Ballardvale Street, Wilmington, MA
- Market: Wilmington, MA
- Acres: 15.38
Gordon Brothers represented by Alyssa Coughlin, along with Ciminelli Real Estate Corporation represented by Ryan Zebro, completed the purchase of this office property. Their expertise and negotiation skills played a crucial role in finalizing the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,800,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$119,906.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$159,992.22
Annual Debt Service$1,919,906.62
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