Jill Henry

100 MAIN STREET AMESBURY, LLC in Boxford, 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 refinanced with a bank loan through a small, local bank for 75% of the appraised value. The property does have deferred maintenance issues, but we have 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

Property State:

MA

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.