Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$235
Total Square Footage:26,307 SF
Transaction Type:Sale
The property asset involved in the transaction is the Hanover Shopping Plaza, located at 1422 Washington St, Hanover, MA. The retail center spans 26,307 square feet and was sold for $6,200,000.00. The property is anchored by Town Fair Tire, Papa Gino’s, D’Angelo, and Pearle Vision. The property was developed in 1975 and has been noted for its potential for renovation.
Summary of transaction details:
- Property Type: Retail Center
- Transaction Amount: $6,200,000.00
- Address: 1422 Washington St, Hanover, MA
- Market: Hanover
- Square Footage: 26,307
- Seller's Representatives: Kevin Gleason - JLL, Evan Griffith - Marcus & Millichap
- Buyer: Unknown
- Seller: Limited Liability Company
- Buyer's Plans: Renovation and leasing of vacant space
The deal was brokered by Evan Griffith and Tony Pepdjonovic from Marcus & Millichap, representing the seller in the transaction. The buyer, also a limited liability company, has expressed intentions to renovate the property and fill existing vacancies within the retail center.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$330,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,027.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,391.16
Annual Debt Service$352,693.96
Is there something missing? Send suggestions