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Marcus & Millichap Sells Industrial Property In Cumberland, RI For $3.5M

Property Image
SOLD
$3,500,000
Harrison Klein
Laurie Ann "L.A." Drinkwater
+ 1

Rhode Island

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Industrial
Sold 01/26/2022
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Property Image
SOLD

Marcus & Millichap Sells Industrial Property In Cumberland, RI For $3.5M

1 Ann and Hope Way, Cumberland, Rhode Island 02864, United States

See Similar Deals
Industrial
Sold 01/26/2022
Harrison Klein
Laurie Ann "L.A." Drinkwater
+ 1
Contact now

Summary

RHODE ISLAND
Asset Type:Industrial
Transaction Type:Sale

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

Laurie Ann "L.A." Drinkwater
13 deals$75M volume(860) 287-0568
BROKER

Seth Richard
Marcus & Millichap
12 deals$62.8M volume
BROKER

Harrison Klein
Marcus & Millichap
47 deals$177.2M volume
BROKER

John Horowitz
Marcus & Millichap
6 deals$31.9M volume
BROKER

Details

SOLD
IMAGE: Laurie Ann (L.A.) Drinkwater, CCIM, Seth J. Richard, Harrison Klein & John Horowitz DATE: 01/26/2022 ADDRESS: 1 Ann & Hope Way MARKET: Cumberland, RI ASSET TYPE: Industrial BROKERS: Harrison Klein, Laurie Ann (L.A.) Drinkwater, CCIM, Seth J. Richard & John Horowitz- Marcus & Millichap SALE PRICE: $3,500,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$186,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43