Jack Zhang Acquires Retail Property In Shrewsbury, MA For $13.6M
SOLD
$13,600,000
+ 1
Massachusetts
See Similar DealsRetail162,254 SF
Sold 03/25/2024
SOLD
Jack Zhang Acquires Retail Property In Shrewsbury, MA For $13.6M
1000 Boston Turnpike
See Similar DealsRetail162,254 SF
Sold 03/25/2024
+ 1
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$83
Total Square Footage:162,254 SF
Transaction Type:Sale
The retail property located at 1000 Boston Turnpike in Shrewsbury, MA, was successfully sold for $13,600,000. Spanning 162,254 square feet, the property was acquired at a price of $84 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,600,000
- Address: 1000 Boston Turnpike
- Market: Shrewsbury, MA
- Square Footage: 162,254
- Buyer: Jack Zhang
- Seller's Rep: Whitney Gallivan, Joe Wagner, Kevin Benzinger & Nick Herz - Boston Realty Advisors
Whitney Gallivan, Joe Wagner, Kevin Benzinger, and Nick Herz from Boston Realty Advisors represented the seller in this successful retail property transaction, showcasing their expertise in facilitating such substantial deals.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$725,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,317.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$64,470.94
Annual Debt Service$773,651.26
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