Marcus & Millichap Brokers Sell Retail Property On Belmont Ave In Springfield, MA
615 Belmont Avenue, Springfield, Massachusetts, USA
$13,200,000
$694/SF
Building Size
19,000 SF
Asset Type
Retail
Closing
Oct 4, 2021
AI
Located at 615 Belmont Ave, this retail property in Springfield, MA was recently sold in a closed transaction. The property spans approximately 19,000 square feet and was sold for a total sale price of $13,200,000. The price per square foot for this transaction was calculated at $695.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $13,200,000
- Square Footage: 19,000
- Price per Square Foot: $695
- Market: Springfield, MA
The sale of this retail property was facilitated by James M. Koury and Alex Quinn from Marcus & Millichap. They represented the parties involved in the transaction, ensuring a smooth process and successful closing.
Players
Springfield 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93