Brijeshkumar Patel Acquires Retail Property In Peabody From MR Realty II Trust For $1.8M
SOLD
$1,800,000
Massachusetts
See Similar DealsRetail6,000 SF
Sold 04/21/2023
SOLD
Brijeshkumar Patel Acquires Retail Property In Peabody From MR Realty II Trust For $1.8M
54 Foster St Peabody, MA 01960, USA
See Similar DealsRetail6,000 SF
Sold 04/21/2023
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$300
Total Square Footage:6,000 SF
Transaction Type:Sale
The retail property located at 54 Foster Street in Peabody, MA has been sold in a closed transaction. The property spans 6,000 square feet and was sold for a price of $1,800,000, resulting in a price per square foot of $300.
Summary of transaction details
The buyer of the property is Brijeshkumar Patel, while the seller is MR Realty II Trust represented by Mat Ambeliotis. The transaction was facilitated by Brian DApice from The Mega Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$96,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02
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