Crosspoint Associates Acquires Retail Property In Framingham, MA For $9.2M
SOLD
$9,200,000
Massachusetts
See Similar DealsRetail1,197,900 SF
Sold 09/08/2020
SOLD
Crosspoint Associates Acquires Retail Property In Framingham, MA For $9.2M
575 Worcester Rd, Framingham, MA 01701, USA
See Similar DealsRetail1,197,900 SF
Sold 09/08/2020
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$7
Total Square Footage:1,197,900 SF
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$490,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32
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