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401 Providence Hwy, Norwood...

Peter Catanese Purchases Norwood Property For $5.75 Million With Representation By Craig Barker
SOLDOther

Peter Catanese Purchases Norwood Property For $5.75 Million With Representation By Craig Barker

401 Providence Hwy, Norwood, MA, 0...

$5,750,000

$230/SF

Building Size

25,000 SF

Asset Type

Other

Closing

Nov 19, 2023

AI

A 25,000 square foot one and two story building situated on a 2.91 acre site was sold for $5.75 million at 401 Providence Highway, Norwood, MA. Bezema Providence Realty Trust was the seller of the property, which was previously used as an automobile dealership, and is located on Route 1.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $5,750,000.00
  • Address: 401 Providence Hwy, Norwood, MA
  • Market: Norwood
  • Seller's Representative: Craig Barker
  • Buyer: Peter Catanese
  • Square Footage: 25,000
  • Site Area: 2.91 acres

Craig Barker of Boston Real Estate Advisors represented Bezema Providence Realty Trust in this transaction. The deal was finalized with Peter Catanese as the buyer, who acquired the property for its existing use and potential future development.

Players

Craig Barker

Broker

$15M

vol

2 deals

Broker

Norwood 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

2.76%

Cash-on-Cash

-0.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93