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Atlantic Capital Partners Sells Vacant Retail Building In Downtown Crossing Boston For $4.05M
SOLD
$4,050,000
+ 1
Massachusetts
See Similar DealsRetail22,646 SF
Sold 08/16/2024
SOLD
Atlantic Capital Partners Sells Vacant Retail Building In Downtown Crossing Boston For $4.05M
19 School Street & 21 School Street
See Similar DealsRetail22,646 SF
Sold 08/16/2024
+ 1
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$178
Total Square Footage:22,646 SF
Transaction Type:Sale
The vacant three-story building at 19-21 School Street in Boston, MA, was sold for $4,050,000. The property has a total square footage of 11,323, resulting in a price per square foot of $358.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,050,000
- Address: 19-21 School Street
- Market: Boston, MA
- Square Footage: 11,323
- Price per Square Foot: $358
The transaction involved brokers from Atlantic Retail, specifically Chris Peterson, Justin Smith, Matt Ericson, and Sam Koonce. This deal was executed as Atlantic Capital Partners sold the property to a Boston-based business, facilitating the latter's expansion plans.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$216,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,388.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,199.07
Annual Debt Service$230,388.79
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