RK Centers Acquires Retail Property In Framingham, MA For $23M
SOLD
$23,000,000
Massachusetts
See Similar DealsRetail80,000 SF
Sold 12/10/2020
SOLD
RK Centers Acquires Retail Property In Framingham, MA For $23M
235 Old Connecticut Path, Framingham, MA, USA
See Similar DealsRetail80,000 SF
Sold 12/10/2020
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$287
Total Square Footage:80,000 SF
Transaction Type:Sale
Located at 235 Old Connecticut Path in Framingham, Massachusetts, this retail property recently changed hands in a sale transaction. The property, spanning 80,000 square feet, was sold by Regency Centers to RK Centers. The sale was facilitated by Geoffrey Millerd of Newmark.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $23,000,000
- Price per Square Foot: $288
- Date: 12/10/2020
Geoffrey Millerd of Newmark represented the buyer, RK Centers, in this transaction. Although no additional information is available, the sale price of $23,000,000 and the price per square foot of $288 offer insights into the value of this retail property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,226,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,714.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,031.73
Annual Debt Service$1,308,380.81
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