Greatland Realty Partners Acquires Office Property In Lexington, MA For $16.3M
SOLD
$16,300,000
Massachusetts
See Similar DealsOffice30,000 SF
Sold 10/11/2022
SOLD
Greatland Realty Partners Acquires Office Property In Lexington, MA For $16.3M
40 Hartwell Avenue, Lexington, Massachusetts 02420, United States
See Similar DealsOffice30,000 SF
Sold 10/11/2022
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$543
Total Square Footage:30,000 SF
Transaction Type:Sale
The office property located at 40 Hartwell Ave in Lexington, MA was recently sold in a transaction that closed on 10/11/2022. The property spans across approximately 7 acres.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $16,300,000
- Square Footage: 30,000
- Price per Square Foot: $543
- Address: 40 Hartwell Ave, Lexington, MA
- Market: Lexington, MA
The buyer of this property is Greatland Realty Partners, while the seller is Duffy Properties. This transaction represents a significant investment in the Lexington office market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$869,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,910.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,270.32
Annual Debt Service$927,243.79
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