Joey Agree - Agree Realty Corp. Acquires Retail Property In Dorchester
SOLD
$7,150,000
Massachusetts
See Similar DealsRetail14,162 SF
Sold 12/14/2020
SOLD
Joey Agree - Agree Realty Corp. Acquires Retail Property In Dorchester
778 Dudley Street, Dorchester, MA, USA
See Similar DealsRetail14,162 SF
Sold 12/14/2020
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$504
Total Square Footage:14,162 SF
Transaction Type:Sale
Located in Dorchester, the retail property at 778 Dudley Street has been sold for a total price of $7,150,000. Spanning across 14,162 square feet, the property was sold at an average price of $504 per square foot. The transaction took place on December 14, 2020.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,150,000
- Address: 778 Dudley Street
- Market: Dorchester
- Seller: Sharon Levine
- Buyer: Joey Agree - Agree Realty Corp.
- Brokers: Bob Horvath & Todd Tremblay - Horvath & Tremblay
The deal was facilitated by brokers Bob Horvath and Todd Tremblay from Horvath & Tremblay. Sharon Levine acted as the seller, while Joey Agree, representing Agree Realty Corp., emerged as the buyer in the transaction. This successful sale highlights the active real estate market in Dorchester.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$381,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,402.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,894.65
Annual Debt Service$406,735.77
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