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Evrotas, LLC Acquires Retail Property In Haverhill, MA For $9.3M

Property Image
SOLD
$9,300,000

Massachusetts

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Retail64,655 SF
Sold 09/29/2021
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Property Image
SOLD

Evrotas, LLC Acquires Retail Property In Haverhill, MA For $9.3M

225 Lincoln Avenue, Haverhill, Massachusetts, USA

See Similar Deals
Retail64,655 SF
Sold 09/29/2021
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Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$143
Total Square Footage:64,655 SF
Transaction Type:Sale

The retail property located at 225 Lincoln Avenue in Rivers Edge Plaza in Haverhill, MA has been sold in a recent transaction. The property is situated in a prime location on Route 97 and benefits from being shadow anchored by Market Basket, making it an attractive property in the densely populated Haverhill market. With a wide variety of retail and service tenants, including Dollar Tree, Aubuchon Hardware, Massachusetts RMV, Burger King, Supercuts, and Dunkin, River's Edge Plaza offers a diverse range of offerings.

Summary of transaction details

The deal was facilitated by Chris McMahon and Frank Normandin from Summit Realty Partners, who represented the buyer and seller in the transaction. Their expertise and knowledge of the local market contributed to the successful completion of the deal. The sale of this retail property demonstrates the continued demand for well-located commercial real estate in the Haverhill area.

Players

Chris McMahon
9 deals$45M volume
BROKER

Frank Normandin
2 deals$21.8M volume
BROKER

Details

SOLD
IMAGE: Chris McMahon & Frank Normandin DATE: 09/29/2021 ADDRESS: 225 Lincoln Avenue - Rivers Edge Plaza MARKET: Haverhill, MA ASSET TYPE: Retail BUYER: Evrotas, LLC SELLER: Rivers Edge Plaza LP BROKERS: Chris McMahon (@ChrisJamesMcmahon) & Frank Normandin- Summit Realty Partners SALE PRICE: $9,300,000 SF: 64,655 ~ PPSF: $144 NOTE: River’s Edge Plaza is shadow anchored by Market Basket and benefits from its location on Route 97 in the densely populated Haverhill, MA market. The shopping center features a wide variety of retail and service tenants including Dollar Tree, Aubuchon Hardware, Massachusetts RMV, Burger King, Supercuts, Dunkin and others.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$496,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,040.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,086.74
Annual Debt Service$529,040.94