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54 Foster St Peabody, MA 01...

Brijeshkumar Patel Acquires Retail Property In Peabody From MR Realty II Trust For $1.8M
SOLDRetail

Brijeshkumar Patel Acquires Retail Property In Peabody From MR Realty II Trust For $1.8M

54 Foster St Peabody, MA 01960, USA

$1,800,000

$300/SF

Building Size

6,000 SF

Asset Type

Retail

Closing

Apr 21, 2023

AI

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

  • Property Type: Retail
  • Transaction Amount: $1,800,000
  • Address: 54 Foster Street, Peabody, MA

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.

Players

Brian DApice

The Mega Group

Broker

$50.3M

vol

16 deals

Broker

Boston 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

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93