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149 Main Street, North Ando...

Eastie Realty Trust Acquires Retail Property On Main Street In North Andover For $1.28M
SOLDRetail

Eastie Realty Trust Acquires Retail Property On Main Street In North Andover For $1.28M

149 Main Street, North Andover, MA, USA

$1,277,139

$367/SF

Building Size

3,477 SF

Asset Type

Retail

Closing

Apr 27, 2020

AI

The retail property located at 149 Main Street in North Andover has been sold in a transaction that took place on April 28, 2020. The property, spanning 3,477 square feet, was sold for a price of $1,277,139, resulting in a price per square foot of $367.31. The seller of the property was S-BNK North Andover LLC, while the buyer was Eastie Realty Trust.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $1,277,139
  • Address: 149 Main Street, North Andover
  • Square Footage: 3,477
  • Seller: S-BNK North Andover LLC
  • Buyer: Eastie Realty Trust

The sale of this retail property was facilitated by Laurie Ann (L.A.) Drinkwater and Seth Richard of Marcus & Millichap. They represented the buyer and seller, respectively, in the transaction.

Players

Laurie Ann Drinkwater

Marcus & Millichap

Broker

$75M

vol

13 deals

Broker

North Andover 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

12.42%

Cash-on-Cash

-3.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93