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209 North Main Street, Ando...

NNN Pro Group - Marcus & Millichap Sells Retail Property In Andover, MA For $53.5M
SOLDRetail

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

Josh Kanter

Surmount

Broker

$626.3M

vol

100 deals

Broker
Marcus & Millichap
Marcus & MillichapBrokerage

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