The Beantown Companies Acquires Retail Property At 969-985 Bennington Street In East Boston, MA For $7.1M
SOLD
$7,100,000
Massachusetts
See Similar DealsRetail20,000 SF
Sold 10/16/2023
SOLD
The Beantown Companies Acquires Retail Property At 969-985 Bennington Street In East Boston, MA For $7.1M
969-985 Bennington Street
See Similar DealsRetail20,000 SF
Sold 10/16/2023
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$355
Total Square Footage:20,000 SF
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 969-985 Bennington Street in East Boston, MA. The property spans 20,000 square feet and was sold for a price of $7,100,000, resulting in a price per square foot of $355.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,100,000
- Address: 969-985 Bennington Street, East Boston, MA
- Market: East Boston, MA
- Seller: Michael Rauseo
- Buyer: The Beantown Companies
- Brokers: Ryan Taylor & Brayden Haney - Fortune Realty
The Beantown Companies acted as the buyer in this transaction, while the seller was Michael Rauseo. The deal was facilitated by brokers Ryan Taylor and Brayden Haney from Fortune Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$378,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,657.62
Annual Debt Service$403,891.47
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