REMAX Bunker Lake Acquires Office Building In Andover For $4M
2677 Bunker Lake Boulevard Northwest
$4,000,000
$294/SF
Building Size
13,600 SF
Asset Type
Office
Closing
Sep 29, 2023
About this deal
AI
The RE/MAX Results office located at 2677 Bunker Lake Blvd. NW in Andover, MN has been sold for $4 million. The property, an office building with a total area of 13,600 square feet, was purchased by Remax Bunker Lake from Boomer Storyline LLC. The price per square foot for the transaction amounts to $294.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,000,000
- Address: 2677 Bunker Lake Boulevard Northwest, Andover, MN
- Market: Andover, MN
- Buyer: Remax Bunker Lake
- Seller: Boomer Storyline LLC
Notably, the acquisition was made by the property manager of the RE/MAX Results office, who took ownership of the building. This deal highlights the involvement of the key individuals and companies, specifically Remax Bunker Lake as the buyer and Boomer Storyline LLC as the seller.
Players
Andover Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93