Mario Minardi Acquires Hill Office Park In Milford MA For $4.13M With Harrison Klein As The Broker
SOLD
$4,125,000
Massachusetts
See Similar DealsOffice39,424 SF
Sold 09/15/2025
SOLD
Mario Minardi Acquires Hill Office Park In Milford MA For $4.13M With Harrison Klein As The Broker
113 Water Street
See Similar DealsOffice39,424 SF
Sold 09/15/2025
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$104
Total Square Footage:39,424 SF
Transaction Type:Sale
The property involved in the transaction is Hill Office Park, located at 113 Water Street in Milford, MA. This medical office park encompasses three buildings with a total square footage of 39,424 and was sold for $4,125,000, resulting in a price per square foot of $104. The asset was sold to a Worcester-based private investor despite having a 25% vacancy rate.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,125,000
- Square Footage: 39,424
- Price per Square Foot: $104
- Buyer: Mario Minardi
- Seller: Karim Jouki
- Broker: Harrison Klein - Marcus & Millichap
- Market: Milford, MA
The Klein Group of Marcus & Millichap, represented by Harrison Klein, facilitated the sale of the property, highlighting the transaction's significance in the regional market despite the challenges posed by vacancy rates.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$220,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,655.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,554.60
Annual Debt Service$234,655.25
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