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233 South Broadway

Joy Real Estate Of Salem, LLC Acquires Retail Property In Salem, NH For $1.7M
SOLDRetail

Joy Real Estate Of Salem, LLC Acquires Retail Property In Salem, NH For $1.7M

233 South Broadway

$1,700,000

$553/SF

Building Size

3,071 SF

Asset Type

Retail

Closing

Oct 27, 2023

AI

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.

Players

Sam Koonce

Atlantic Retail

Broker

$532.8M

vol

29 deals

Broker

Salem Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.33%

Cash-on-Cash

-2.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93