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FV, LLC Purchases Industrial Building At 21 Amflex Drive Cranston For $4.5M

Property Image
SOLD
$4,500,000
Julie Freshman
George Paskalis
Jeff Finan
+ 1

Rhode Island

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Industrial56,630 SF
Sold 01/17/2025
the dealplayerscompscontact
Property Image
SOLD

FV, LLC Purchases Industrial Building At 21 Amflex Drive Cranston For $4.5M

21 Amflex Drive

See Similar Deals
Industrial56,630 SF
Sold 01/17/2025
Julie Freshman
George Paskalis
Jeff Finan
+ 1
the dealplayerscompscontact
Contact now

Summary

RHODE ISLAND
Asset Type:Industrial
Price Per Square Foot:$79
Total Square Footage:56,630 SF
Transaction Type:Sale

An industrial property located at 21 Amflex Drive in Cranston, RI, has been sold for $4,500,000. The asset covers 3.95 acres and comprises a total of 56,630 square feet. The price per square foot for this transaction was $79.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: $4,500,000
  • Address: 21 Amflex Drive
  • Market: Cranston, RI
  • Acres: 3.95
  • Square Footage: 56,630
  • Price per Square Foot: $79
  • Buyer: FV, LLC
  • Seller: Alga Reality Associates
  • Buyer's Representative: George Paskalis & Julie Freshman - MG Commercial
  • Seller's Representative: Jeff Finan & Karl Sherry - Hayes & Sherry

This transaction involved the brokerage services of Hayes & Sherry, who represented the seller, Alga Reality Associates, while MG Commercial acted on behalf of the buyer, FV, LLC. The deal was finalized on January 17, 2025.

Players

Julie Freshman
Julie Freshman
3 deals$15M volume
BROKER
George Paskalis
George Paskalis
2 deals$10.3M volume
BROKER
Jeff Finan
Hayes & Sherry
Jeff Finan
1 deal$4.5M volume(401) 273-7428
BROKER
Karl Sherry
Hayes & Sherry
Karl Sherry
1 deal$4.5M volume(401) 273-7427
BROKER

Details

SOLD
IMAGE: George Paskalis, Julie Freshman, Jeff Finan & Karl Sherry DATE: 01/17/2025 ADDRESS: 21 Amflex Drive MARKET: Cranston, RI ASSET TYPE: Industrial ~ ACRES: 3.95 BUYER: FV, LLC SELLER: Alga Reality Associates BUYER'S REP: George Paskalis & Julie Freshman - MG Commercial SELLER'S REP: Jeff Finan & Karl Sherry - Hayes & Sherry SALE PRICE: $4,500,000 SF: 56,630 ~ PPSF: $79 NOTE: Hayes & Sherry brokered the $4.5M sale of a 56,630-sf industrial building at 21 Amflex Dr. in Smithfield, RI, representing seller Alga Realty Associates, while MG Commercial represented buyer FV, LLC.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55