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Andover-based LLC Acquires Packard Humanities Institute Office Portfolio In Cambridge
SOLD
$3,550,000
Massachusetts
See Similar DealsOffice22,500 SF
Sold 05/20/2024
SOLD
Andover-based LLC Acquires Packard Humanities Institute Office Portfolio In Cambridge
9 Mount Auburn Street, 11A Mount Auburn Street & 11b Mount Auburn Street
See Similar DealsOffice22,500 SF
Sold 05/20/2024
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$157
Total Square Footage:22,500 SF
Transaction Type:Sale
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.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$189,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,612.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,828.81
Annual Debt Service$201,945.73
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