Tuccio Properties Group & Salvatore Capital Partners Acquire Retail Asset From VTT Management Inc For $8M
SOLD
$8,000,000
Massachusetts
See Similar DealsRetail49,000 SF
Sold 12/12/2024
SOLD
Tuccio Properties Group & Salvatore Capital Partners Acquire Retail Asset From VTT Management Inc For $8M
74 Main Street
See Similar DealsRetail49,000 SF
Sold 12/12/2024
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$163
Total Square Footage:49,000 SF
Transaction Type:Sale
The asset involved in this transaction is a retail property located at 74 Main Street in Medway, MA. The sale price for the property was $8,000,000, which reflects a price per square foot of $163. The total square footage of the property is 49,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 74 Main Street
- Market: Medway, MA
- Square Footage: 49,000
- Price Per Square Foot: $163
- Buyer: Tuccio Properties Group & Salvatore Capital Partners
- Seller: VTT Management Inc
- Date of Transaction: 12/12/2024
- Representatives: Andrew Murphy & Andrew Tuccio
The transaction was facilitated by Tuccio Properties Group and Salvatore Capital Partners as buyers, while VTT Management Inc served as the seller. The deal was represented by Andrew Murphy and Andrew Tuccio, highlighting their roles in this property transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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