C&S Capital Properties LLC Acquires Office Building On Main Street, Reading, MA For $2.35M
SOLD
$2,350,000
Massachusetts
See Similar DealsOffice18,000 SF
Sold 01/29/2021
SOLD
C&S Capital Properties LLC Acquires Office Building On Main Street, Reading, MA For $2.35M
248 Main Street, Reading, MA, USA
See Similar DealsOffice18,000 SF
Sold 01/29/2021
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$130
Total Square Footage:18,000 SF
Transaction Type:Sale
The office property located at 248 Main Street in Reading, MA has been sold for $2,350,000. The transaction took place on January 29, 2021. The property spans a total area of 18,000 square feet, resulting in a price per square foot of $131. The seller of the property was Carter & Coleman Realty Trust, while the buyer was C&S Capital Properties LLC. The deal was facilitated by Jeremy Cyrier from MANSARD.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,350,000
- Address: 248 Main Street, Reading, MA
- Market: Reading, MA
- Square Footage: 18,000
- Price per Square Foot: $131
- Seller: Carter & Coleman Realty Trust
- Buyer: C&S Capital Properties LLC
- Broker: Jeremy Cyrier - MANSARD
Jeremy Cyrier from MANSARD played a key role as the broker in this transaction. Their expertise and negotiation skills helped in successfully closing the deal between Carter & Coleman Realty Trust and C&S Capital Properties LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$125,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39
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