MIT Acquires Retail Property In Kendall Square, Cambridge For $5M
SOLD
$5,000,000
Massachusetts
See Similar DealsRetail6,079 SF
Sold 06/07/2020
SOLD
MIT Acquires Retail Property In Kendall Square, Cambridge For $5M
266 Massachusetts Avenue, Cambridge, MA, USA
See Similar DealsRetail6,079 SF
Sold 06/07/2020
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$822
Total Square Footage:6,079 SF
Transaction Type:Sale
The retail property located at 266 Massachusetts Avenue in Kendall Square, Cambridge, has been sold in a transaction that took place on 06/07/2021. The property, spanning 6,079 square feet, was sold by Sunoco LP to MIT for a total sale price of $5,000,000. This equates to a price per square foot of $823. The deal was facilitated by brokers Ami Cipolla and Andrew Jacob from Atlantic Retail. It is important to note that this transaction is a Sale Leaseback.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,000,000
- Square Footage: 6,079
- Address: 266 Massachusetts Avenue
- Market: Kendall Square, Cambridge
Ami Cipolla and Andrew Jacob, representing Atlantic Retail, played a key role as brokers in this sale. Their expertise helped facilitate the transaction between Sunoco LP and MIT, resulting in the successful acquisition of the retail property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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