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414 Broadway

Daniel J. Waldman & David Hark Facilitate $1.45M Sale Of Retail Asset In Lynn, MA
SOLDRetail

Daniel J. Waldman & David Hark Facilitate $1.45M Sale Of Retail Asset In Lynn, MA

414 Broadway

$1,450,000

$483/SF

Building Size

3,000 SF

Asset Type

Retail

Closing

May 10, 2024

AI

The former Santander Bank building at 414 Broadway in Lynn, MA, was sold for $1.45 million. The retail property spans 3,000 square feet with a price per square foot of $483. Daniel J. Waldman of Waldman & Associates represented the buyer, while David Hark of The Drumlin Group represented the seller in this transaction.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,450,000
  • Address: 414 Broadway, Lynn, MA
  • Market: Lynn, MA
  • Buyer's Rep: Daniel J. Waldman - Waldman & Associates
  • Seller's Rep: David Hark - The Drumlin Group
  • SF: 3,000
  • PPSF: $483

Daniel J. Waldman facilitated the purchase of the property, highlighting its prime location and sizable 1/2-acre lot in a densely populated area, attracting a client to seize this promising retail opportunity.

Players

David Hark

The Drumlin Group

Broker

$5.5M

vol

3 deals

Broker

Lynn Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.94%

Cash-on-Cash

-3.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93