Gordon Brothers Acquires Andover Research & Development Property For $19.8M
3 Riverside Drive, Andover, Massachusetts 01810, United States
$19,800,000
$211/SF
Building Size
93,500 SF
Asset Type
Other
Closing
Jun 28, 2022
AI
Located at 3 Riverside Drive in Andover, MA, this research and development property spans across 7.4 acres. The sale took place on June 29, 2022, and the transaction was captured in a photograph taken by Alyssa Coughlin.
Summary of transaction details
- Property Type: Research & Development
- Transaction Amount: $19,800,000
- Address: 3 Riverside Drive, Andover, MA
- Market: Andover, MA
- Acres: 7.4
The buyer in this sale was Gordon Brothers, represented by Alyssa Coughlin and Ciminelli Real Estate Corporation's Ryan Zebro. The property was sold for a price of $19,800,000. It encompasses a total of 93,500 square feet, resulting in a price per square foot of $212.
Players
Andover Other Market Snapshot
Boundary boundary · Other · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93