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Clark's Block LLC Acquires Retail Asset In Natick, MA For $6M
SOLD
$6,000,000
Massachusetts
See Similar DealsRetail61,000 SF
Sold 07/12/2024
SOLD
Clark's Block LLC Acquires Retail Asset In Natick, MA For $6M
1-23 Main Street
See Similar DealsRetail61,000 SF
Sold 07/12/2024
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$98
Total Square Footage:61,000 SF
Transaction Type:Sale
The $6 million sale of Clark’s Block at 1-23 Main St., a historic landmark in downtown Natick, MA, has been finalized. The retail property spans 61,000 square feet with a price per square foot of $98.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,000,000
- Address: 1-23 Main Street
- Market: Natick, MA
- Buyer: KIC 2 Summer LLC
- Seller: Clark’s Block LLC
- Brokers: Craig Johnston & Garry Holmes - R.W. Holmes Commercial Real Estate
Craig Johnston and Garry Holmes from R.W. Holmes Commercial Real Estate facilitated the transaction between Clark’s Block LLC and KIC 2 Summer LLC, ensuring a successful sale of the iconic property in Natick.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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