Bill Horrigan Acquires Retail Property On S Broadway For $2.9M
369 South Broadway, Salem, NH, USA
$2,878,000
$159/SF
Building Size
18,000 SF
Asset Type
Retail
Closing
Sep 13, 2021
AI
Located at 369 S Broadway in Salem, NH, this retail property was recently sold in a closed transaction. The property spans approximately 18,000 square feet and was sold for a total price of $2,878,000, resulting in a price per square foot of $289,600. The transaction was an all-cash deal that closed in just 35 days.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $2,878,000
Bill Horrigan was the buyer of the property, while George Mouro served as the seller. The transaction was represented by Taylor Saulnier and Jeremy Cyrier from MANSARD, who acted as brokers for both the buyer and seller. It is worth noting that at the time of the sale, the property was 75% leased.
Players
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
5.51%
Cash-on-Cash
-1.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93