James M. Koury & Alex Quinn Acquire Retail Property In Gloucester, MA For $6.2M
7 Railroad Avenue, Gloucester, Massachusetts 01930, United States
$6,200,000
$166/SF
Building Size
37,340 SF
Asset Type
Retail
Closing
Dec 10, 2021
AI
A retail property located at 7 Railroad Ave in Gloucester, MA has recently been sold. The transaction took place on 12/10/2021 with a sale price of $6,200,000. The property has a building size of 37,340 square feet, resulting in a price per square foot of $166.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,200,000
- Address: 7 Railroad Ave, Gloucester, MA
- Market: Gloucester, MA
- Building Size: 37,340 square feet
- Price per Square Foot: $166
The sale of this retail property was brokered by James M. Koury & Alex Quinn from Marcus & Millichap.
Players
Gloucester 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
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93