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
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