Sterling Organization Acquires Retail Property In Braintree, MA For $44.2M
SOLD
$44,200,000
Massachusetts
See Similar DealsRetail173,798 SF
Sold 01/26/2022
SOLD
Sterling Organization Acquires Retail Property In Braintree, MA For $44.2M
238 Grove St, Braintree, Massachusetts 02184, United States
See Similar DealsRetail173,798 SF
Sold 01/26/2022
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$254
Total Square Footage:173,798 SF
Transaction Type:Sale
A retail property located at 238-310 Grove St in Braintree, MA has been sold for a price of $44,200,000. The property has a total square footage of 173,798 and a price per square foot of $254. The transaction took place on January 26, 2022. The property sits on a sizable 18.76-acre lot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $44,200,000
- Address: 238-310 Grove St, Braintree, MA
- Market: Braintree, MA
- Square Footage: 173,798
- Price per Square Foot: $254
- Lot Size: 18.76 acres
The buyer of the property is Sterling Organization. The sale was facilitated by brokers Nat Heald, Chris Angelone, and Zach Nitsche from JLL.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,357,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$157,033.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$209,530.55
Annual Debt Service$2,514,366.60
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