Updated Dec 19, 2023
Prescott White Acquires Retail Property In Lowell, MA From Geoff Schembechler For $2M
374 Chelmsford Street, Lowell, MA 01851, USA
$2,000,000
$909/SF
Building Size
2,200 SF
Asset Type
Retail
Closing
Mar 29, 2021
About this deal
AI
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.
Players
Lowell 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93