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Meta Mill, LLC Purchases 25,472 Sq. Ft. Industrial Property In North Providence For $3.5M
SOLD
$3,500,000
Rhode Island
See Similar DealsIndustrial25,472 SF
Sold 12/13/2024
SOLD
Meta Mill, LLC Purchases 25,472 Sq. Ft. Industrial Property In North Providence For $3.5M
1119 Douglas Avenue
See Similar DealsIndustrial25,472 SF
Sold 12/13/2024
Summary
RHODE ISLAND
Asset Type:Industrial
Price Per Square Foot:$137
Total Square Footage:25,472 SF
Transaction Type:Sale
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:
- Property Type: Industrial
- Transaction Amount: $3,500,000
- Address: 1119 Douglas Avenue
- Market: North Providence, RI
- Square Footage: 25,472
- Price per Square Foot: $137
- Buyer: Meta Mill, LLC
- Seller's Representative: Joseph Kern - Sweeney Real Estate & Appraisal
- Broker: Zhongyuan Williams - Coldwell Banker
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.
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Deal Type
30 years
10 years
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
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