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
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