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Riverside Properties LLC Acquires Retail Property In Cambridge, MA For $5M

Property Image
SOLD
$5,000,000

Massachusetts

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Retail17,869 SF
Sold 06/11/2020
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Property Image
SOLD

Riverside Properties LLC Acquires Retail Property In Cambridge, MA For $5M

629 Cambridge Street, Cambridge, MA, USA

See Similar Deals
Retail17,869 SF
Sold 06/11/2020
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Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$279
Total Square Footage:17,869 SF
Transaction Type:Sale

Located at 629 Cambridge Street in Cambridge, MA, this retail property was recently sold in a transaction handled by ABG Commercial Realty. The property spans a total of 17,869 square feet and was sold for a price of $5,000,000, resulting in a price per square foot (PPSF) of $280. The seller of the property was Judith Silver, while the buyer was Riverside Properties LLC.

Summary of Transaction Details:

  • Property Type: Retail
  • Transaction Amount: $5,000,000
  • Address: 629 Cambridge Street, Cambridge, MA
  • Market: Cambridge, MA
  • Square Footage: 17,869
  • Price Per Square Foot (PPSF): $280
  • Seller: Judith Silver
  • Buyer: Riverside Properties LLC
  • Brokers: Julian Lewis, Stephanie Deering, & Talia Abrams-Kudan - ABG Commercial Realty

This deal was facilitated by Julian Lewis, Stephanie Deering, and Talia Abrams-Kudan of ABG Commercial Realty. They acted as brokers representing both the buyer, Riverside Properties LLC, and the seller, Judith Silver. This transaction highlights the active real estate market in Cambridge, MA, with a substantial sale price and a favorable price per square foot.

Players

4 deals$36.4M volume
BROKER

Julian Lewis
4 deals$17.2M volume
BROKER

Talia Abrams-Kudan
1 deal$5M volume
BROKER

Details

SOLD
IMAGE: Julian Lewis, Stephanie Deering, & Talia Abrams-Kudan DATE: 06/11/2021 ADDRESS: 629 Cambridge Street MARKET: Cambridge, MA ASSET TYPE: Retail SELLER: Judith Silver BUYER: Riverside Properties LLC BROKERS: Julian Lewis, Stephanie Deering, & Talia Abrams-Kudan - ABG Commercial Realty SALE PRICE: $5,000,000 SF: 17,869 ~ PPSF: $280

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$266,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61