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240 Harris Street in Revere...

Ayni Institute Acquires Office Building In Revere, MA For $1.18M
SOLDOffice

Ayni Institute Acquires Office Building In Revere, MA For $1.18M

240 Harris Street in Revere, Massachusetts 02151, USA

$1,180,000

$258/SF

Building Size

4,557 SF

Asset Type

Office

Closing

Jun 15, 2023

AI

A stand-alone office building located at 240 Harris Street in Revere, MA, has been sold for $1,180,000. The 4,557 square foot building will serve as a new training center for the Ayni Institute. It offers convenient access to public transportation, parking, and high visibility.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,180,000
  • Address: 240 Harris Street, Revere, MA
  • Market: Revere, MA
  • Buyer: Ayni Institute
  • Buyer's Representative: Ellie Cullinan - Freudenheim Partners
  • Seller's Representatives: Charlie Jacob & Steve Nohrden - Burgess Properties
  • Square Footage: 4,557
  • Price Per Square Foot: $259

The deal was facilitated by Ellie Cullinan of Freudenheim Partners, who represented the buyer, the Ayni Institute. Charlie Jacob and Steve Nohrden of Burgess Properties represented the seller. The transaction was completed on 06/15/2023.

Players

Steve Nohrden

Burgess Properties

Broker

$27.4M

vol

8 deals

Broker

Boston 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

13.44%

Cash-on-Cash

-3.84%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93