Updated Dec 4, 2024
Residential Properties Sells 85 Acre Farm In Smithfield, RI For $2.763M
00 Reservoir Road
$2,763,000
Building Size
—
Asset Type
Farm
Closing
May 10, 2024
About this deal
AI
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.
Smithfield Farm Market Snapshot
Boundary boundary · Farm · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.74%
Cash-on-Cash
-1.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93