MathWorks Acquires Office Building In Natick, MA For $17.6M
SOLD
$17,600,000
Massachusetts
See Similar DealsOffice107,300 SF
Sold 08/05/2022
SOLD
MathWorks Acquires Office Building In Natick, MA For $17.6M
24 Superior Dr, Natick, Massachusetts 01760, United States
See Similar DealsOffice107,300 SF
Sold 08/05/2022
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$164
Total Square Footage:107,300 SF
Transaction Type:Sale
The office property located at 24 Superior Drive in Natick, MA has been sold in a transaction. The buyer, MathWorks, acquired the property from the seller, LMF Cochituate Corp. The deal was facilitated by brokers Garry Holmes and Elizabeth Holmes from R.W. Holmes. The transaction took place on 08/05/2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,600,000
- Square Footage: 107,300
- Price Per Square Foot: $164
- Address: 24 Superior Drive, Natick, MA
- Market: Natick, MA
The sale of the property marks a significant transaction in the office market. MathWorks, as the buyer, recognized the value of the property and the potential it holds for their business. With the assistance of Garry Holmes and Elizabeth Holmes from R.W. Holmes, the deal was successfully closed. This transaction demonstrates the continued activity and demand in the commercial real estate market in Natick, MA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$938,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,529.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$83,432.98
Annual Debt Service$1,001,195.75
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