Prescott White Acquires Retail Property In Lowell, MA From Geoff Schembechler For $2M
SOLD
$2,000,000
Massachusetts
See Similar DealsRetail2,200 SF
Sold 03/30/2021
SOLD
Prescott White Acquires Retail Property In Lowell, MA From Geoff Schembechler For $2M
374 Chelmsford Street, Lowell, MA 01851, USA
See Similar DealsRetail2,200 SF
Sold 03/30/2021
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$909
Total Square Footage:2,200 SF
Transaction Type:Sale
The retail property located at 374 Chelmsford Street in Lowell, MA has been sold for $2,000,000. The transaction took place on March 30, 2021. Geoff Schembechler was the seller, while Prescott White was the buyer. The property was marketed by Nolan Johnson from the B+E agency.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,000,000
- Seller: Geoff Schembechler
- Buyer: Prescott White
- Broker: Nolan Johnson - B+E
The sale of this retail property represents a successful transaction in Lowell, MA. It is a testament to the thriving real estate market in the area. The involvement of Geoff Schembechler as the seller and Prescott White as the buyer showcases the interests of both parties. Nolan Johnson, representing B+E, played a crucial role in facilitating the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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