Updated Oct 29, 2024
Spire Investments Acquires Commercial Property In Danvers, MA For $1.7M
3 Federal St, Danvers, MA 01923, USA
$1,700,000
$61/SF
Building Size
27,878 SF
Asset Type
Other
Closing
Aug 27, 2020
About this deal
AI
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.
On the Map
$1,700,000
$61/SF
Other
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Players
Danvers Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.33%
Cash-on-Cash
-2.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93