Updated Sep 5, 2024
Marcus & Millichap Facilitates $19.55M Retail Sale In Lynnfield, MA
24-38 Broadway, Lynn, MA, USA
$19,550,000
$377/SF
Building Size
51,776 SF
Asset Type
Retail
Closing
Aug 2, 2021
About this deal
AI
The retail property located at 24-38 Broadway in Lynnfield, MA has recently been sold for a total price of $19,550,000. The property, spanning 51,776 square feet, was acquired at a price of $378 per square foot. Situated on a 6.79-acre lot, the property's price per acre stands at $2,879,234.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $19,550,000
- Address: 24-38 Broadway, Lynnfield, MA
- Market: Lynnfield, MA
- Square Footage: 51,776
- Price per Square Foot: $378
- Lot Size: 6.79 acres
- Price per Acre: $2,879,234
The sale was facilitated by the NNN Pro Group, part of Marcus & Millichap, represented by brokers Glen Kunofsky, Josh Kanter, and Anthony D'Ambrosia.
Players
Lynn 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93