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Paramount Realty Services Inc. Acquires Springfield Property For $10.2 Million With Brokers Justin Smith And Geoffrey Millerd

Property Image
SOLD
$10,200,000
Robert (Rob) Griffin
Paul Penman
+ 1

Massachusetts

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Retail182,400 SF
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Property Image
SOLD

Paramount Realty Services Inc. Acquires Springfield Property For $10.2 Million With Brokers Justin Smith And Geoffrey Millerd

1101 Boston Rd, Springfield, MA, 01119

See Similar Deals
Retail182,400 SF
Robert (Rob) Griffin
Paul Penman
+ 1
Contact now

Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$55
Total Square Footage:182,400 SF
Transaction Type:Sale

The property asset involved in this transaction is Springfield Commons, a retail center that spans 182,400 square feet. It is located at 1101 Boston Rd, Springfield, MA, in the Springfield market. The sale price of the property was $10,200,000. Walmart is the anchor tenant of the center, complemented by tenants such as Dollar Tree and Sonic.

Summary of transaction details:

  • Property Type: Retail Center
  • Transaction Amount: $10,200,000.00
  • Address: 1101 Boston Rd, Springfield, MA, 01119
  • Square Footage: 182,400
  • Market: Springfield
  • Seller's Representative: Justin Smith - Remax, Geoffrey Millerd - Newmark
  • Buyer: Paramount Realty Services Inc.

The key individuals involved in the transaction include Geoffrey Millerd, Justin Smith, Paul Penman, Samantha Torto, and Robert Griffin, who represented the undisclosed seller and facilitated the procurement of the buyer, Paramount Realty Services Inc.

Players

Geoffrey Millerd
14 deals$825M volume
BROKER

Robert (Rob) Griffin
Newmark
72 deals$7.3B volume(617) 863-8611
BROKER

Paul Penman
Newmark
14 deals$884.1M volume(617) 863-8638
BROKER

Justin Smith
Re/Max
9 deals$96M volume
BROKER

BUYER

Details

SOLD
IMAGE: 1101 Boston Rd, Springfield, MA, 01119 MARKET: Springfield SELLER'S REP: Justin Smith-Remax, Geoffrey Millerd-Newmark BUYER: Paramount Realty Services Inc. SELLER: PRICE: $10,200,000.00 SF: 182400

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$544,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,353.20
Annual Debt Service$580,238.45