Horvath & Tremblay Acquires Retail Property In New Bedford, MA For $4.5M
SOLD
$4,500,000
Massachusetts
See Similar DealsRetail45,675 SF
Sold 05/27/2022
SOLD
Horvath & Tremblay Acquires Retail Property In New Bedford, MA For $4.5M
2935 Acushnet Avenue, New Bedford, Massachusetts 02745, United States
See Similar DealsRetail45,675 SF
Sold 05/27/2022
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$98
Total Square Footage:45,675 SF
Transaction Type:Sale
The retail property located at 2935-2941 Acushnet Ave in New Bedford, MA has been sold. This property spans an area of 3.84 acres and was listed for sale by Bob Horvath, Todd Tremblay, and Hobart Hare of Horvath & Tremblay. The transaction was completed on 05/27/2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,500,000
- Address: 2935-2941 Acushnet Ave, New Bedford, MA
- Market: New Bedford, MA
- Acres: 3.84
The selling price for this retail property was $4,500,000, with a total area of 45,675 square feet. The price per square foot was $99.
Bob Horvath, Todd Tremblay, and Hobart Hare of Horvath & Tremblay acted as the brokers for this transaction. They represented the buyer and seller, assisting in the sale of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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