Norwood Bank Provides $7.9M Refinance Loan For Retail Property On Washington St
884 Washington Street, Norwood, Massachusetts, USA
$7,988,000
$1,198/SF
Building Size
6,665 SF
Asset Type
Retail
Closing
May 24, 2020
AI
Located at 884 Washington Street in Norwood, MA, this retail property recently underwent a refinancing transaction. The loan amount for this deal was $7,988,000, provided by Norwood Bank.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,988,000
- Loan Type: Refinance
- Loan Terms: 3.75% Fixed Interest | 25-Year Loan
- Lender: Norwood Bank
- Broker: Robert Damigella - Marcus & Millichap Boston
Represented by Robert Damigella from Marcus & Millichap Boston, this refinancing deal for the retail property on 884 Washington Street in Norwood, MA was successfully executed, securing a loan with a fixed interest rate of 3.75% over a 25-year term.
Players
Norwood Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.99%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93