Updated Dec 4, 2024
VTT 46-56 Cedar Street LLC Sells Retail Plaza In Southborough For $1.65 Million With Representation From Garrett Quinn And Joel Aho
3 Turnpike Road & 11 Turnpike Road
$1,650,000
$105/SF
Building Size
7,800 SF
Asset Type
Retail
Closing
Aug 12, 2024
About this deal
AI
A 7,800-square-foot retail plaza located at 3-11 Turnpike Road in Southborough, MA was sold for $1,650,000. The asset features a 95% occupancy rate with six tenants, making it a favorable investment opportunity. The sale was facilitated on Route 9.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,650,000
- Square Footage: 7,800
- Price Per Square Foot: $212
- Seller: VTT 46-56 Cedar Street LLC
- Buyer's Representative: Joel Aho - Aho Properties
- Seller's Representative: Garrett Quinn - SVN | Parsons Commercial Group | Boston
SVN | Parsons Commercial Group | Boston successfully brokered the sale, showcasing the high occupancy level of the plaza as a strong indicator of its investment potential. The transaction highlights the role of the representatives in navigating the deal for both the seller and the buyer.
On the Map
$1,650,000
$105/SF
Retail
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Players
Southborough 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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93