Jill Henry Commercial Deal

 

Jill Henry Commercial Deal

100 MAIN STREET AMESBURY, LLC in Amesbury, MA
Jill Henry with Todd Henry

This property was brought to our attention by our real estate broker through an MLS listing. The property is a 24 unit office building located in the central business district of a small city 45 minutes north of Boston, MA. It was listed for less than 1 day before we put in our cash offer. The property was listed for 1.2M but we purchased it for 1.1M. We closed in cash and then finance a bank loan through a small, local bank for 75% of appraised value. The property does have deferred maintenance issues, but we have in a plan in place to address those issues over the next few years. The space was 95% occupied at the time of purchase in January 2020. Even through Covid, we have managed to maintain an occupancy level of 91.6% and the building is returning a CoC of 9.5%.

Commercial Details

Property City: Amesbury
Purchase Price: $1,100,000
Sale Price: $1,100,000

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

The commercial analyzer software, lease contracts and property management check lists were extremely helpful resources when evaluating this property for purchase and managing the property after the purchase.