Nexgen Mechanical Acquires 25.3K SF Industrial Building In Warwick, RI For $2.15M
111 Plan Way
$2,150,000
$84/SF
Building Size
25,352 SF
Asset Type
Industrial
Closing
Dec 15, 2023
AI
Nexgen Mechanical, an HVAC contractor, has purchased a 25,352-square-foot industrial building located at 111 Plan Way in Warwick, RI. The property, formerly known as R.I. Rental, was sold for $2.15 million by Capstone Properties' Vice President, Neil Amper.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,150,000
- Address: 111 Plan Way, Warwick, RI
- Market: Warwick, RI
- Buyer: David McCurry - Nexgen Mechanical
- Broker: Neil Amper - Capstone Properties
- SF: 25,352
- PPSF: $85
Neil Amper, representing Capstone Properties, successfully facilitated the sale of the industrial building to Nexgen Mechanical.
Players
Warwick Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.38%
Cash-on-Cash
-2.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93