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1119 Douglas Avenue

Meta Mill, LLC Purchases 25,472 Sq. Ft. Industrial Property In North Providence For $3.5M
SOLDIndustrial

Meta Mill, LLC Purchases 25,472 Sq. Ft. Industrial Property In North Providence For $3.5M

1119 Douglas Avenue

$3,500,000

$137/SF

Building Size

25,472 SF

Asset Type

Industrial

Closing

Dec 13, 2024

AI

The transaction involved the sale of an industrial asset located at 1119 Douglas Avenue in North Providence, RI. The property encompasses 25,472 square feet and was sold for $3,500,000, translating to a price per square foot of approximately $137.

Summary of transaction details:

Joseph Kern represented the sellers in this transaction, while Zhongyuan Williams acted on behalf of the buyers, Meta Mill, LLC, in the deal for the refurbished mill. The transaction reflects a collaboration between both brokerage firms to facilitate the sale.

Players

Joseph Kern

Sweeney Real Estate & Appraisal

Broker

$3.5M

vol

1 deal

Broker

North Providence 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