Crosspoint Associates Acquires Retail Property In Framingham, MA For $9.2M
575 Worcester Rd, Framingham, MA 01701, USA
$9,200,000
$7/SF
Building Size
1,197,900 SF
Asset Type
Retail
Closing
Sep 7, 2020
AI
The retail property located at 575 Worcester Road in Framingham, MA has been sold for a price of $9,200,000. The property spans over an area of 119,790 square feet, resulting in a price per square foot of $77. The transaction took place on September 8, 2020.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,200,000
- Address: 575 Worcester Road, Framingham, MA
- Market: Framingham, MA
- Square Footage: 119,790
- Price per Square Foot: $77
The seller of the property is Empire Management Corp., while the buyer is Crosspoint Associates represented by John W. Hueber. The brokers involved in the deal include Bernard Gibbons from ABG Commercial Real Estate and Craig A. Barker from Boston Real Estate Advisors.
Players
Framingham 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
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93