RockportCP Realty, LLC Acquires Office Building In Swampscott, MA For $3.8M
SOLD
$3,829,457
Massachusetts
See Similar DealsOffice24,203 SF
Sold 05/24/2022
SOLD
RockportCP Realty, LLC Acquires Office Building In Swampscott, MA For $3.8M
990 Paradise Road, Swampscott, Massachusetts 01907, United States
See Similar DealsOffice24,203 SF
Sold 05/24/2022
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$158
Total Square Footage:24,203 SF
Transaction Type:Sale
An office property located at 990 Paradise Rd in Swampscott, MA has been sold for a total price of $3,829,457. The property spans across 24,203 square feet, resulting in a price per square foot of $158.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,829,457
- Address: 990 Paradise Rd
- Market: Swampscott, MA
The buyer, RockportCP Realty, LLC, acquired the property from the seller, 990 Realty, LLC. The buyer's representatives in the deal were Paul Herrick & Jason Grzybek from Herrick Lutts Realty Partners. On the other hand, David Hark from The Drumlin Group represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$204,237.70
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,605.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,153.58
Annual Debt Service$217,842.96
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