facebook

traded

+ Submit
Home

/

Deals

/

Massachusetts

/

Office

/

Sale

/

990 Paradise Road, Swampsco...

RockportCP Realty, LLC Acquires Office Building In Swampscott, MA For $3.8M
SOLDOffice

RockportCP Realty, LLC Acquires Office Building In Swampscott, MA For $3.8M

990 Paradise Road, Swampscott, Massachusetts 01907, United States

$3,829,457

$158/SF

Building Size

24,203 SF

Asset Type

Office

Closing

May 23, 2022

AI

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.

Players

Paul Herrick

Herrick Lutts Realty Partners

Broker

$56.6M

vol

8 deals

Broker

Swampscott Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.14%

Cash-on-Cash

-1.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93