The Shops At Randolph, LLC Acquires Sterling Plaza Retail Site From Sterling Trust For $9.5M
45 Mazzeo Drive
$9,500,000
$363/SF
Building Size
26,165 SF
Asset Type
Retail
Closing
Oct 25, 2024
AI
The retail asset located at 45 Mazzeo Drive in Randolph, MA was sold for a total of $9,500,000. This property encompasses a total square footage of 26,165 and is represented by a price per square foot of $363.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,500,000
- Buyer: The Shops at Randolph, LLC
- Seller: Sterling Trust
- Broker: James "Jim" McEvoy - The Conrad Group
The transaction involved the sale of the Sterling Plaza retail site, which includes notable restaurants such as Outback Steakhouse and West End Grill, marking a significant handover between the seller and the buyer.
Players
Randolph 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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93