NNN Pro Group Sells Retail Asset In Leominster, MA For $5.46M
SOLD
$5,459,575
+ 2
Massachusetts
See Similar DealsRetail28,000 SF
Sold 07/01/2024
SOLD
NNN Pro Group Sells Retail Asset In Leominster, MA For $5.46M
865 Merriam Avenue
See Similar DealsRetail28,000 SF
Sold 07/01/2024
+ 2
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$195
Total Square Footage:28,000 SF
Transaction Type:Sale
The retail property located at 865 Merriman Avenue in Leominster, MA, was sold for $5,459,575. The asset spans 28,000 square feet with a price per square foot of $195. The sale was facilitated by the NNN Pro Group.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $5,459,575
- Address: 865 Merriman Avenue
- Market: Leominster, MA
- Buyer's Rep: Brian Ahrens - Horvath & Tremblay
- Seller's Rep: Anthony D'Ambrosia, Glen Kunofsky, Josh Kanter & Kevin Burke - NNN Pro Group
- SF: 28,000
- PPSF: $195
The NNN Pro Group played a crucial role in arranging the sale of the Twin City strip center in Leominster, MA, ensuring a successful transaction for all parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$291,177.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,396.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,881.17
Annual Debt Service$310,574.05
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