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1-23 Main Street

Clark's Block LLC Acquires Retail Asset In Natick, MA For $6M
SOLDRetail

Clark's Block LLC Acquires Retail Asset In Natick, MA For $6M

1-23 Main Street

$6,000,000

$98/SF

Building Size

61,000 SF

Asset Type

Retail

Closing

Jul 12, 2024

AI

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:

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.

Players

Craig Johnston

R.W. Holmes Commercial Real Estate

Broker

$15.7M

vol

3 deals

Broker

Natick Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93