Updated Aug 21, 2025
Shantaaa LLC Acquires Former Rite Aid In Somerville From I.C. Somerville Inc For $2.6M
132 North Gaston Avenue
$2,600,000
$236/SF
Building Size
11,000 SF
Asset Type
Retail
Closing
Aug 20, 2025
About this deal
AI
The transaction involves the sale of a retail property located at 132 North Gaston Avenue in Somerville. The property, formerly a Rite Aid, encompasses a total of 11,000 square feet and was sold for $2,600,000, resulting in a price per square foot of $236.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,600,000
- Address: 132 North Gaston Avenue
- Market: Somerville
- Square Footage: 11,000
- Price per Square Foot: $236
- Buyer: Shantaaa LLC
- Seller: I.C. Somerville Inc
- Broker: Tim Deluccia - Deluccia Commercial Group - Berkshire Hathaway HomeServices
Tim Deluccia of Deluccia Commercial Group represented both Shantaaa LLC and I.C. Somerville Inc in the deal, facilitating the transaction between the buyer and the seller for the property at 132 North Gaston Ave.
On the Map
$2,600,000
$236/SF
Retail
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Players
Somerville 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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93