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Residential Properties Sells 85 Acre Farm In Smithfield, RI For $2.763M
SOLD
$2,763,000
Rhode Island
See Similar DealsFarm
Sold 05/10/2024
SOLD
Residential Properties Sells 85 Acre Farm In Smithfield, RI For $2.763M
00 Reservoir Road
See Similar DealsFarm
Sold 05/10/2024
Summary
RHODE ISLAND
Asset Type:Farm
Transaction Type:Sale
The property located at 00 Reservoir Road in Smithfield, RI, is a Farm spanning 85 acres. The sale of this asset was facilitated by Residential Properties Ltd. (RPL) for a total purchase price of $2.763 million. The seller was represented by RPL sales associate Derek Simpson, who served as the listing agent in this transaction.
Summary of transaction details:
- Property Type: Farm
- Transaction Amount: $2,763,000
- Address: 00 Reservoir Road
- Market: Smithfield, RI
- Asset Type: Farm
- Acres: 85
- Broker: Derek Simpson - Residential Properties
Derek Simpson of Residential Properties Ltd. played a crucial role as the seller's listing agent in the transaction of 00 Reservoir Road, ensuring a successful sale of the 85-acre Farm in Smithfield, RI.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$147,360.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,816.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,098.03
Annual Debt Service$157,176.36
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