Updated Oct 29, 2024
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
About this deal
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.
The office sale at 50 Minuteman Rd Andover, MA 01810, USA in Boston, Massachusetts sold for $34.2M in 2023. The building is 160,000 square feet, implying about 213 per square foot on the published price. Named participants on the 50 Minuteman Rd Andover, MA 01810, USA sale are Michael Olson. This page is the Boston, Massachusetts file for the 50 Minuteman Rd Andover, MA 01810, USA office sold: pricing, party profiles, and other closed office comps from the same Boston sit in the Market section below. Filter that Boston office set by closing date to see what else sold near 50 Minuteman Rd Andover, MA 01810, USA around 2023. Published consideration for 50 Minuteman Rd Andover, MA 01810, USA is $34.2M, dated 2023. Cite this Rhino Capital Advisors Acquires Andover Office Building For $34.2M sale when underwriting similar office product around Boston, Massachusetts.
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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