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585 Middlesex Street, Lowel...

Catapult & Cannon, LLC Acquires Office Property In Lowell, MA For $3.1M
SOLDOffice

Catapult & Cannon, LLC Acquires Office Property In Lowell, MA For $3.1M

585 Middlesex Street, Lowell, Massachusetts 01851, United States

$3,100,000

$165/SF

Building Size

18,733 SF

Asset Type

Office

Closing

Oct 10, 2022

AI

The office property located at 585 Middlesex Street in Lowell, MA has been sold for a total price of $3,100,000. The transaction took place on October 11, 2022, and the property spans a total area of 18,733 square feet. The price per square foot for this sale is approximately $165. The buyer of the property is Catapult & Cannon, LLC, while the seller is Nokode, LLC, represented by Pete Delano. Jeremy Cyrier from Mansard served as the broker in this deal.

Summary of Transaction Details:

  • Property Type: Office
  • Transaction Amount: $3,100,000
  • Address: 585 Middlesex Street, Lowell, MA
  • Market: Lowell, MA
  • Buyer: Catapult & Cannon, LLC
  • Seller: Nokode, LLC - Pete Delano
  • Broker: Jeremy Cyrier - Mansard
  • Property Size: 18,733 square feet
  • Price per Square Foot: $165

This transaction showcases the successful sale of an office property in Lowell, MA. The buyer, Catapult & Cannon, LLC, made the purchase from the seller, Nokode, LLC, represented by Pete Delano. The deal was facilitated by Jeremy Cyrier from Mansard. The sale price of $3,100,000 and the property's size of 18,733 square feet demonstrate the value and potential of this office asset in the Lowell market.

Players

Jeremy Cyrier

Broker

$45.6M

vol

12 deals

Broker

Lowell 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

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93