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
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