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Main Street 401, LLC Acquires Retail Property In Salem, NH For $4.3M

Property Image
SOLD
$4,300,000

New Hampshire

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Retail29,264 SF
Sold 02/08/2021
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Property Image
SOLD

Main Street 401, LLC Acquires Retail Property In Salem, NH For $4.3M

401 Main Street, Salem, NH, USA

See Similar Deals
Retail29,264 SF
Sold 02/08/2021
Contact now

Summary

NEW HAMPSHIRE
Asset Type:Retail
Price Per Square Foot:$146
Total Square Footage:29,264 SF
Transaction Type:Sale

The retail property located at 401 Main Street in Salem, NH was recently sold for a total price of $4,300,000. The transaction took place on February 8, 2021. The property spans across 29,264 square feet, resulting in a price per square foot of $147. The seller of the property was NNM Realty Trust, and the buyer was Main Street 401, LLC, represented by Kim Abare.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $4,300,000
  • Square Footage: 29,264
  • Price per Square Foot: $147
  • Transaction Date: February 8, 2021
  • Address: 401 Main Street, Salem, NH
  • Market: Salem, NH

Taylor Saulnier and Jeremy Cyrier, representing Mansard Commercial Real Estate Advisor, acted as the brokers in this transaction. They assisted both the seller, NNM Realty Trust, and the buyer, Main Street 401, LLC, during the sale process.

Players

12 deals$45.6M volume
BROKER

Taylor Saulnier
9 deals$35.2M volume
BROKER

SELLER

Details

SOLD
IMAGE: Jeremy Cyrier & Taylor Saulnier DATE: 02/08/2021 ADDRESS: 401 Main Street MARKET: Salem, NH ASSET TYPE: Retail SELLER: NNM Realty Trust BUYER: Main Street 401, LLC - Kim Abare BROKERS: Taylor Saulnier & Jeremy Cyrier - Mansard Commercial Real Estate Advisor SALE PRICE: $4,300,000 SF: 29,264 ~ PPSF: $147

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$229,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33