Skydra Development Acquires 6.5-Acre Development Site In Warwick, RI For $3.3M
2119 Post Road
$3,300,000
Building Size
—
Asset Type
Development Site
Closing
Dec 15, 2023
AI
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.
Players
Warwick Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93