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Joy Real Estate Of Salem, LLC Acquires Retail Property In Salem, NH For $1.7M
SOLD
$1,700,000
+ 1
New Hampshire
See Similar DealsRetail3,071 SF
Sold 10/27/2023
SOLD
Joy Real Estate Of Salem, LLC Acquires Retail Property In Salem, NH For $1.7M
233 South Broadway
See Similar DealsRetail3,071 SF
Sold 10/27/2023
+ 1
Summary
NEW HAMPSHIRE
Asset Type:Retail
Price Per Square Foot:$553
Total Square Footage:3,071 SF
Transaction Type:Sale
Joy Real Estate of Salem, LLC has acquired a retail property located at 233 South Broadway in Salem, New Hampshire. The property, spanning 3,071 square feet, was sold for $1.7 million. The transaction met a 1031 requirement from a previous property sale, fulfilling the buyer's investment needs.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $1,700,000
- Address: 233 South Broadway, Salem, NH
- Square Footage: 3,071
- Price per Square Foot: $554
The buyer, Joy Real Estate of Salem, LLC, enlisted the services of Chris Gallagher, Joseph (Joe) Italiaander, and Roger Dieker from The Boulos Company as their representatives in the deal. On the other hand, the seller, Leemilt's Petroleum, Inc, was represented by Sam Koonce from Atlantic Retail. These individuals played key roles in facilitating the transaction and ensuring a successful sale of the retail property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41
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