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111 Plan Way

Nexgen Mechanical Acquires 25.3K SF Industrial Building In Warwick, RI For $2.15M
SOLDIndustrial

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

Neil Amper

Capstone Properties

Broker

$7.9M

vol

4 deals

Broker

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