C&S Capital Properties LLC Acquires Office Building On Main Street, Reading, MA For $2.35M
248 Main Street, Reading, MA, USA
$2,350,000
$130/SF
Building Size
18,000 SF
Asset Type
Office
Closing
Jan 28, 2021
AI
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.
Players
Reading 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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93