Power 250, LLC Acquires Commercial Property In Providence, RI For $1M
SOLD
$1,000,000
Rhode Island
See Similar DealsCommercial5,760 SF
Sold 02/12/2021
SOLD
Power 250, LLC Acquires Commercial Property In Providence, RI For $1M
159 Gano Street, Providence, RI, USA
See Similar DealsCommercial5,760 SF
Sold 02/12/2021
Summary
RHODE ISLAND
Asset Type:Commercial
Price Per Square Foot:$173
Total Square Footage:5,760 SF
Transaction Type:Sale
Located at 159 Gano Street in Providence, RI, this commercial property was recently sold in a closed transaction. The property, spanning 5,760 square feet, was sold for a price of $1,000,000, resulting in a price per square foot of $174. The transaction took place on February 12, 2021.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $1,000,000
- Square Footage: 5,760
- Price per Square Foot: $174
- Address: 159 Gano Street, Providence, RI
- Market: Providence, RI
The buyer in this transaction was Power 250, LLC, while the seller was represented by Eric Schultheis from Sweeney Real Estate & Appraisal. Martin Saklad from Samson Realty, Ltd served as the buyer's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12
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