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2677 Bunker Lake Boulevard ...

Updated Dec 4, 2024

REMAX Bunker Lake Acquires Office Building In Andover For $4M
SOLDOffice

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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Deal FAQ

About $294 per square foot on a published $4M for 13,600 square feet (2023).

Browse Andover office sales on Traded.

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

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