Bill Horrigan Acquires Retail Property On S Broadway For $2.9M
SOLD
$2,878,000
New Hampshire
See Similar DealsRetail18,000 SF
Sold 09/14/2021
SOLD
Bill Horrigan Acquires Retail Property On S Broadway For $2.9M
369 South Broadway, Salem, NH, USA
See Similar DealsRetail18,000 SF
Sold 09/14/2021
Summary
NEW HAMPSHIRE
Asset Type:Retail
Price Per Square Foot:$159
Total Square Footage:18,000 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$153,493.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,224.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,643.19
Annual Debt Service$163,718.26
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