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1089 Washington Street, New...

SRS Real Estate Partners Acquires Retail Property In Newton, MA For $9.9M
SOLDRetail

SRS Real Estate Partners Acquires Retail Property In Newton, MA For $9.9M

1089 Washington Street, Newton, Massachusetts 02465, United States

$9,900,000

$1,980/SF

Building Size

5,000 SF

Asset Type

Retail

Closing

Nov 10, 2021

AI

Located at 1089 Washington St in Newton, MA, this retail property was recently sold in a closed transaction. The property spans approximately 5,000 square feet and was sold for a price of $9,900,000, resulting in a price per square foot of $1,980. The deal was facilitated by Danny Griffin and Eric Suffoletto, who represented the seller and buyer, respectively, through SRS Real Estate Partners and the SRS National Net Lease Group.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $9,900,000
  • Address: 1089 Washington St, Newton, MA
  • Market: Newton, MA
  • Square Footage: 5,000
  • Price per Square Foot: $1,980
  • Brokers: Danny Griffin & Eric Suffoletto - SRS Real Estate Partners / SRS National Net Lease Group

Danny Griffin of SRS Real Estate Partners and Eric Suffoletto of the SRS National Net Lease Group were instrumental in bringing together the buyer and seller for this retail property transaction. Their expertise and representation ensured a successful transaction.

Players

Eric Suffoletto

Atlantic Retail

Broker

$95.9M

vol

16 deals

Broker

Newton 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

1.60%

Cash-on-Cash

-0.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93