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Rhino Capital Advisors Acquires Andover Office Building For $34.2M
SOLD
$34,220,000
Massachusetts
See Similar DealsOffice160,000 SF
Sold 07/05/2023
SOLD
Rhino Capital Advisors Acquires Andover Office Building For $34.2M
50 Minuteman Rd Andover, MA 01810, USA
See Similar DealsOffice160,000 SF
Sold 07/05/2023
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$213
Total Square Footage:160,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,825,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$121,576.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$162,220.26
Annual Debt Service$1,946,643.10
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