NNN Pro Group - Marcus & Millichap Sells Retail Property In Andover, MA For $53.5M
209 North Main Street, Andover, MA, USA
$53,454,545
$523/SF
Building Size
102,060 SF
Asset Type
Retail
Closing
Aug 17, 2021
AI
Located at 209 North Main Street in Andover, MA, this retail property was recently sold. The transaction was facilitated by Glen Kunofsky, Josh Kanter, and Anthony D'Ambrosia of NNN Pro Group - Marcus & Millichap. The property spans approximately 102,060 square feet, with a sale price of $53,454,545, equating to a price per square foot of $524. Situated on 17.30 acres, the property was sold at an average price of $3,089,858 per acre.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $53,454,545
- Market: Andover, MA
- Address: 209 North Main Street
- Square Footage: 102,060
- Price per Square Foot: $524
- Acres: 17.30
- Price per Acre: $3,089,858
Glen Kunofsky, Josh Kanter, and Anthony D'Ambrosia from NNN Pro Group - Marcus & Millichap played a pivotal role in this transaction, representing the involved parties and facilitating the deal.
Players
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
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93