Updated Oct 29, 2024
Herrick Lutts Realty Facilitates Lease Of 6,066 SF Restaurant Space In Beverly, MA
27-33 Enon Street Beverly, Massachusetts 01915, USA
Building Size
6,066 SF
Asset Type
Retail
Closing
Jun 28, 2023
About this deal
AI
The lease of a 6,066 square foot restaurant space in Beverly, MA was recently facilitated by Herrick Lutts Realty Partners. The space, located at 27-33 Enon Street, was previously occupied by Bertucci's Italian Restaurant. The lease was secured between the owner, Winkel Properties, and the tenant, Beverly G LLC.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 27-33 Enon Street, Beverly, MA
- Market: Beverly, MA
- Square Footage: 6,066
- Landlord: Winkel Properties
- Tenant: Beverly G LLC
- Brokers: Nick Zolotas & Rich Vincent - Herrick Lutts Realty Partners
Herrick Lutts Realty Partners played a crucial role in facilitating the lease transaction between Winkel Properties and Beverly G LLC. The deal allowed the tenant to secure a 6,066 square foot space for their restaurant in Beverly, MA.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93