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CVS Pharmacy Property In Norton, MA Sold For $4.62M With Marcus & Millichap Brokers

Property Image
SOLD
$4,620,000
Thomas (Tom) Shihadeh
Laurie Ann "L.A." Drinkwater
Seth Richard

Massachusetts

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Retail10,125 SF
Sold 09/19/2023
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Property Image
SOLD

CVS Pharmacy Property In Norton, MA Sold For $4.62M With Marcus & Millichap Brokers

35 West Main Street

See Similar Deals
Retail10,125 SF
Sold 09/19/2023
Thomas (Tom) Shihadeh
Laurie Ann "L.A." Drinkwater
Seth Richard
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$456
Total Square Footage:10,125 SF
Transaction Type:Sale

A retail property located at 35 West Main Street in Norton, Massachusetts has been sold for $4.62 million. The property spans 10,125 square feet and has a price per square foot of $456. It is a strategically located property in a college town, and it comes with a long-term lease from CVS Pharmacy.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,620,000
  • Square Footage: 10,125
  • Price per Square Foot: $456
  • Address: 35 West Main Street, Norton, MA
  • Market: Norton, MA

Laurie Ann "L.A." Drinkwater, Seth J. Richard, and Tom Shihadeh of Marcus & Millichap represented the seller in this transaction. They served as the broker for the deal, ensuring a successful sale of the CVS Pharmacy property in Norton, Massachusetts.

Players

Laurie Ann "L.A." Drinkwater
Marcus & Millichap
Laurie Ann Drinkwater
13 deals$75M volume(860) 287-0568
BROKER
Seth Richard
Marcus & Millichap
Seth Richard
12 deals$62.8M volume
BROKER
Thomas (Tom) Shihadeh
Marcus & Millichap
Thomas Shihadeh
15 deals$46.5M volume
BROKER

Details

SOLD
IMAGE: Thomas Shihadeh, Seth Richard & Laurie Ann "L.A." Drinkwater DATE: 09/19/2023 ADDRESS: 35 West Main Street MARKET: Norton, MA ASSET TYPE: Retail BROKERS: Laurie Ann "L.A." Drinkwater, Seth Richard & Thomas Shihadeh - Marcus & Millichap (@MarcusMillichapBoston) SALE PRICE: $4,620,000 SF: 10,125 ~ PPSF: $456 NOTE: A CVS Pharmacy property in Norton, Massachusetts, spanning 10,125 square feet, was sold for $4.62 million. The strategically located property, with a long-term CVS lease, sits in a college town. The seller was represented by Laurie Ann “L.A.” Drinkwater, Seth J. Richard, and Tom Shihadeh of Marcus & Millichap.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$246,400.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,413.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,901.16
Annual Debt Service$262,813.88