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369 South Broadway, Salem, ...

Bill Horrigan Acquires Retail Property On S Broadway For $2.9M
SOLDRetail

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

Jeremy Cyrier

Broker

$45.6M

vol

12 deals

Broker

George Mouro

Seller

$6.3M

vol

2 deals

Seller

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