Andover-based LLC Acquires Packard Humanities Institute Office Portfolio In Cambridge
9 Mount Auburn Street, 11A Mount Auburn Street & 11b Mount Auburn Street
$3,550,000
$157/SF
Building Size
22,500 SF
Asset Type
Office
Closing
May 20, 2024
AI
The Packard Humanities Institute sold properties at 9, 11A, and 11B Mount Auburn Street in Cambridge for $3.55M. The buildings, dating back to the early 1900s, offer a total of 7,500 sq ft of office space and are situated near Harvard Square.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $3,550,000
- Address: 9 Mount Auburn Street, 11A Mount Auburn Street & 11B Mount Auburn Street
- Market: Cambridge, MA
David W. Packard from the Packard Humanities Institute was the seller of the mentioned properties. The buyer, an Andover-based LLC, completed the acquisition of these office spaces near Harvard Square.
Players
Cambridge 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
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93