SOLDOffice
Rhino Capital Advisors Acquires Andover Office Building For $34.2M
50 Minuteman Rd Andover, MA 01810, USA
$34,220,000
$213/SF
Building Size
160,000 SF
Asset Type
Office
Closing
Jul 5, 2023
AI
Rhino Capital Advisors has purchased a 160,000-square-foot office building located at 50 Minuteman Road in Andover, MA for a total of $34,220,000. The property features 14 acres of land and is situated in the Andover market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $34,220,000
- Address: 50 Minuteman Road, Andover, MA
- Market: Andover, MA
- Square Footage: 160,000
- Price Per Square Foot: $214
Michael Olson from Rhino Capital Advisors represented the buyer in this transaction.
Boston 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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93