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Skydra Development Acquires 6.5-Acre Development Site In Warwick, RI For $3.3M
SOLD
$3,300,000
Rhode Island
See Similar DealsDevelopment Site
Sold 12/15/2023
SOLD
Skydra Development Acquires 6.5-Acre Development Site In Warwick, RI For $3.3M
2119 Post Road
See Similar DealsDevelopment Site
Sold 12/15/2023
Summary
RHODE ISLAND
Asset Type:Development Site
Transaction Type:Sale
Skydra Development has acquired a 6.5-acre development site located at 2119 Post Road in Warwick, RI. The property was purchased from the R.I. Airport Corp for a total of $3.3 million.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,300,000
- Address: 2119 Post Road, Warwick, RI
- Market: Warwick, RI
- Acres: 6.5
The seller's representative in this deal was Iftikhar Ahmad from the R.I. Airport Corp, while the buyer was represented by Matthew Fair from Hayes & Sherry.
Skydra Development plans to move forward with a major development on this newly acquired property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$175,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20
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