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:
- 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.
Players
Natick Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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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