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Lundgren Equity Partners Acquires Retail Property In Webster, MA For $5.3M

Property Image
SOLD
$5,325,000
James Glickman
Michael (Mike) Jacobs

Massachusetts

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Retail57,000 SF
Sold 06/24/2022
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Property Image
SOLD

Lundgren Equity Partners Acquires Retail Property In Webster, MA For $5.3M

70 Worcester Road, Webster, Massachusetts 01570, United States

See Similar Deals
Retail57,000 SF
Sold 06/24/2022
James Glickman
Michael (Mike) Jacobs
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$93
Total Square Footage:57,000 SF
Transaction Type:Sale

The retail property located at 70 Worcester Rd & 84 Worcester Rd in Webster, MA has been sold. The transaction was completed on 06/24/2022. Lundgren Equity Partners, LLC acquired the property from Webster Market Realty, LLC for a total price of $5,325,000. The asset spans a total area of 57,000 square feet, resulting in a price per square foot of $75.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $5,325,000
  • Square Footage: 57,000
  • Address: 70 Worcester Rd & 84 Worcester Rd, Webster, MA
  • Market: Webster, MA

The deal was facilitated by James Glickman and Michael Jacobs from NAI Glickman Kovago & Jacobs, who represented both the buyer, Lundgren Equity Partners, LLC, and the seller, Webster Market Realty, LLC.

Players

Michael (Mike) Jacobs
NAI Global
Michael Jacobs
4 deals$10.8M volume(774) 230-3448
BROKER
James Glickman
NAI Global
James Glickman
9 deals$51.4M volume
BROKER
Lundgren Equity Partners, LLC
Lundgren Equity Partners, LLC
BUYER

Details

SOLD
IMAGE: James Glickman & Michael Jacobs DATE: 06/24/2022 ADDRESS: 70 Worcester Rd & 84 Worcester Rd MARKET: Webster, MA ASSET TYPE: Retail BUYER: Lundgren Equity Partners, LLC SELLER: Webster Market Realty, LLC BROKERS: James Glickman & Michael Jacobs (@Michael_Jacobs_Realtor) - NAI Glickman Kovago & Jacobs (@NAI.GKJ) SALE PRICE: $5,325,000 SF: 57,000 ~ PPSF: $75

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

$283,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,918.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,243.22
Annual Debt Service$302,918.60