Updated Sep 5, 2024
Marcus & Millichap Sells Retail Property In Gloucester, MA For $1.54M
147 Main Street, Gloucester, MA, USA
$1,540,000
$335/SF
Building Size
4,596 SF
Asset Type
Retail
Closing
Apr 11, 2021
About this deal
AI
Located at 147 Main St in Gloucester, MA, this retail property was recently sold. The transaction took place on April 12, 2021. The property has a total area of 4,596 square feet, with a price per square foot of $335. The sale price for this transaction was $1,540,000, resulting in a cap rate of 5.16%.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,540,000
- Address: 147 Main St, Gloucester, MA
- Market: Gloucester, MA
- Square Footage: 4,596
- Price per Square Foot: $335
The sale of this retail property was facilitated by Glen Kunofsky and Anthony D'Ambrosia from Marcus & Millichap NY, along with Josh Kanter from Marcus & Millichap Boston. Their expertise and representation played a crucial role in the successful completion of this deal.
Players
Gloucester 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
10.30%
Cash-on-Cash
-2.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93