Marcus & Millichap Sells Industrial Property In Cumberland, RI For $3.5M
1 Ann and Hope Way, Cumberland, Rhode Island 02864, United States
$3,500,000
Building Size
—
Asset Type
Industrial
Closing
Jan 25, 2022
AI
The industrial property located at 1 Ann & Hope Way in Cumberland, RI has been sold. The sale took place on January 26, 2022. The property was listed and represented by brokers Harrison Klein, Laurie Ann (L.A.) Drinkwater, CCIM, Seth J. Richard, and John Horowitz from Marcus & Millichap. The property was sold for a total price of $3,500,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,500,000
- Date: January 26, 2022
- Address: 1 Ann & Hope Way, Cumberland, RI
- Market: Cumberland, RI
The deal involved brokers Harrison Klein, Laurie Ann (L.A.) Drinkwater, CCIM, Seth J. Richard, and John Horowitz, who represented the seller and buyer in the transaction. They provided their expertise and negotiation skills to facilitate the sale of the industrial property in Cumberland. The transaction showcases their professional capabilities and the trust placed in Marcus & Millichap as a reputable agency.
Players
Cumberland Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93