Spire Investments Acquires Commercial Property In Danvers, MA For $1.7M
SOLD
$1,700,000
Massachusetts
See Similar DealsOther27,878 SF
Sold 08/28/2020
SOLD
Spire Investments Acquires Commercial Property In Danvers, MA For $1.7M
3 Federal St, Danvers, MA 01923, USA
See Similar DealsOther27,878 SF
Sold 08/28/2020
Summary
MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$61
Total Square Footage:27,878 SF
Transaction Type:Sale
A commercial property located at 3 Federal Street in Danvers, MA has been sold for a transaction price of $1,700,000. The property spans across 27,878 square feet, resulting in a price per square foot of $61.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $1,700,000
- Address: 3 Federal Street, Danvers, MA
- Market: Danvers, MA
The seller of the property was Lee Realty Trust, while Spire Investments, represented by Jay Goldberg, acted as the buyer. Mark Stevens from the Stevens Group served as the seller's representative, and Brian DApice from Mega Group represented the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41
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