Updated Feb 24, 2025
David Katz & Raanan Katz Acquire Fully Occupied Retail Property On Cedar Street, Stoneham, MA For $20M
85 Cedar Street, Stoneham, MA, USA
$20,000,000
$165/SF
Building Size
120,861 SF
Asset Type
Retail
Closing
Dec 27, 2020
About this deal
AI
Located in Stoneham, MA, the retail property at 85 Cedar Street has recently been sold for $20,000,000. The transaction took place on December 28, 2020, with the seller being Harvey Gertel from STE Development and the buyers being David Katz & Raanan Katz. The property spans 120,861 square feet, resulting in a price per square foot of $165.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $20,000,000
- Address: 85 Cedar Street, Stoneham, MA
- Date: 12/28/2020
- Market: Stoneham, MA
- Seller: Harvey Gertel – STE Development
- Buyer: David Katz & Raanan Katz
The property is currently fully occupied by B.J.'s Wholesale & Gas, providing a stable and reliable income stream for the new owners.
On the Map
$20,000,000
$165/SF
Retail
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Players
Stoneham 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93