Bandera Ventures Acquires Retail Space In Hyannis, MA For $61.75M
SOLD
$61,750,000
Massachusetts
See Similar DealsRetail258,110 SF
Sold 04/07/2022
SOLD
Bandera Ventures Acquires Retail Space In Hyannis, MA For $61.75M
65 Independence Drive, Hyannis, Massachusetts 02601, United States
See Similar DealsRetail258,110 SF
Sold 04/07/2022
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$239
Total Square Footage:258,110 SF
Transaction Type:Sale
A retail property located at 65 Independence Dr in Hyannis, MA has been sold in a transaction on 04/07/2022. The property, with a total square footage of 258,110, was purchased by Bandera Ventures from O'Connor Capital Partners for a sale price of $61,750,000. The property is situated in the Hyannis market and is categorized as a retail asset.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $61,750,000
- Address: 65 Independence Dr, Hyannis, MA
- Market: Hyannis, MA
The transaction was facilitated by brokers Geoff Millerd, Jon Martin, and Paul Penman from Newmark, who represented the parties involved in the deal. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$219,384.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$292,726.50
Annual Debt Service$3,512,718.04
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