Rhino Capital Advisors Acquires Andover Office Building From Jumbo Capital For $27.4M
3 Riverside Drive, Andover, Massachusetts, USA
$27,400,000
$114/SF
Building Size
240,000 SF
Asset Type
Office
Closing
Mar 4, 2021
AI
The property involved in this transaction is an office building located at 3 & 6 Riverside Drive & 1 Corporate Drive in Andover, MA. The property has a total square footage of 240,000 and was sold for a price of $27,400,000, resulting in a price per square foot of $114.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $27,400,000
- Address: 3 & 6 Riverside Drive & 1 Corporate Drive, Andover, MA
- Market: Andover, MA
The seller in this transaction was Jumbo Capital, represented by Jay Hirsh. The buyer was Rhino Capital Advisors, represented by Michael Olson.
Players
Andover 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
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93