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Atlantic Capital Partners Sells Vacant Retail Building In Downtown Crossing Boston For $4.05M

Property Image
SOLD
$4,050,000
Chris Peterson
Justin Smith
+ 1

Massachusetts

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Retail22,646 SF
Sold 08/16/2024
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Property Image
SOLD

Atlantic Capital Partners Sells Vacant Retail Building In Downtown Crossing Boston For $4.05M

19 School Street & 21 School Street

See Similar Deals
Retail22,646 SF
Sold 08/16/2024
Chris Peterson
Justin Smith
+ 1
Contact now

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.

Players

Justin Smith
29 deals$541.7M volume
BROKER

Chris Peterson
Atlantic Retail
29 deals$469M volume
BROKER

Sam Koonce
Atlantic Retail
27 deals$447M volume
BROKER

Matt Ericson
Atlantic Retail
10 deals$152.7M volume(978) 494-2164
BROKER

Details

SOLD
IMAGE: Chris Peterson, Justin Smith, Sam Koonce & Matt Ericson DATE: 08/16/2024 ADDRESS: 19-21 School Street MARKET: Boston, MA ASSET TYPE: Retail BROKERS: Chris Peterson, Justin Smith, Matt Ericson & Sam Koonce (@Koonce1026) - Atlantic Retail SALE PRICE: $4,050,000 SF: 11,323 ~ PPSF: $358 NOTE: Atlantic Capital Partners sold the vacant three-story building at 19-21 School St. in Downtown Crossing to a Boston-based business for expansion.

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Deal Type
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