Rhino Capital Advisors Acquires Andover Office Building From Jumbo Capital For $27.4M
SOLD
$27,400,000
Massachusetts
See Similar DealsOffice240,000 SF
Sold 03/05/2021
SOLD
Rhino Capital Advisors Acquires Andover Office Building From Jumbo Capital For $27.4M
3 Riverside Drive, Andover, Massachusetts, USA
See Similar DealsOffice240,000 SF
Sold 03/05/2021
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$114
Total Square Footage:240,000 SF
Transaction Type:Sale
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
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,461,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$97,346.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$129,889.98
Annual Debt Service$1,558,679.75
Is there something missing? Send suggestions