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:
- 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.
Players
North Providence 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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93