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The Shops At Randolph, LLC Acquires Sterling Plaza Retail Site From Sterling Trust For $9.5M
SOLD
$9,500,000
Massachusetts
See Similar DealsRetail26,165 SF
Sold 10/25/2024
SOLD
The Shops At Randolph, LLC Acquires Sterling Plaza Retail Site From Sterling Trust For $9.5M
45 Mazzeo Drive
See Similar DealsRetail26,165 SF
Sold 10/25/2024
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$363
Total Square Footage:26,165 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$506,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16
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