Updated Dec 18, 2023
Herrick Lutts Realty Partners Sells Retail Property In Danvers, MA For $2.9M
63 Maple Street, Danvers, Massachusetts 01923, United States
$2,900,000
$161/SF
Building Size
18,000 SF
Asset Type
Retail
Closing
May 11, 2022
About this deal
AI
The retail property located at 63 Maple St in Danvers, MA has been recently sold. The transaction was handled by Nicholas Zolotas from Herrick Lutts Realty Partners. The sale took place on 05/12/2022 for a total price of $2,900,000. The property spans approximately 18,000 square feet, resulting in a price per square foot of $161.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,900,000
- Address: 63 Maple St, Danvers, MA
- Market: Danvers, MA
- Square Footage: 18,000
- Price per Square Foot: $161
- Broker: Nicholas Zolotas - Herrick Lutts Realty Partners
This successful retail property transaction was made possible through the dedicated efforts of Nicholas Zolotas and Herrick Lutts Realty Partners. Their expertise in the real estate industry played a significant role in facilitating the sale of this property.
Danvers 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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93