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ExchangeRight Net Lease Acquires Retail Property In Fall River, MA For $13.15M
SOLD
$13,150,000
Massachusetts
See Similar DealsRetail71,000 SF
Sold 01/18/2024
SOLD
ExchangeRight Net Lease Acquires Retail Property In Fall River, MA For $13.15M
501 Rodman Street
See Similar DealsRetail71,000 SF
Sold 01/18/2024
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$185
Total Square Footage:71,000 SF
Transaction Type:Sale
The 71,000 sq. ft. single-tenant retail property located at 501 Rodman Street in Fall River, Massachusetts, has been sold for a price of $13,150,000. The property is currently occupied by a Stop & Shop Supermarket.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,150,000
- Address: 501 Rodman Street, Fall River, MA
- Market: Fall River, MA
The buyer of the property is David Fisher, representing ExchangeRight Net Lease. The sellers are Carter Winstanley from Winstanley Enterprises and Edward Silvera from Surrey Equities. The transaction was facilitated by brokers Jordana Rice Roet and Nat Heald from CBRE.
CBRE played a key role in orchestrating the $13.15 million sale of the property to ExchangeRight Net Lease. The 71,000 sq. ft. single-tenant retail property is home to a Stop & Shop Supermarket.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$701,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,719.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,337.71
Annual Debt Service$748,052.51
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