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G3 Properties Acquires Industrial Building In Woonsocket, RI For $1.65M

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SOLD
$1,650,000

Rhode Island

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Industrial20,876 SF
Sold 05/26/2023
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Property Image
SOLD

G3 Properties Acquires Industrial Building In Woonsocket, RI For $1.65M

220 Founders Drive Woonsocket, Rhode Island 02895, USA

See Similar Deals
Industrial20,876 SF
Sold 05/26/2023
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Summary

RHODE ISLAND
Asset Type:Industrial
Price Per Square Foot:$79
Total Square Footage:20,876 SF
Transaction Type:Sale

An industrial building located at 220 Founders Drive in Woonsocket, RI has been sold for $1.65 million. The property spans 20,876 square feet, resulting in a price per square foot of $79. The buyer, G3 Properties, LLC, acquired the asset with representation from Kevin Casey of Sweeney Real Estate & Appraisal. Eric Schultheis, also from Sweeney Real Estate & Appraisal, acted as the seller's representative in the transaction.

Summary of transaction details

Eric Schultheis and Kevin Casey of Sweeney Real Estate & Appraisal successfully closed the sale of the industrial property located at 220 Founders Drive in Woonsocket, RI. Casey represented the buyers, G3 Properties, LLC, while Schultheis represented the seller. The transaction was completed for a total price of $1.65 million.

Players

Kevin Casey
5 deals$9.8M volume
BROKER

Eric Schultheis
Sweeney Real Estate & Appraisal
3 deals$3.7M volume
BROKER

Details

SOLD
IMAGE: Eric Schultheis & Kevin Casey DATE: 05/26/2023 ADDRESS: 220 Founders Drive MARKET: Woonsocket, RI ASSET TYPE: Industrial BUYER: G3 Properties, LLC BROKERS: Eric Schultheis & Kevin Casey - Sweeney Real Estate & Appraisal SALE PRICE: $1,650,000 SF: 20,876 ~ PPSF: $79 NOTE: Eric Schultheis and Kevin Casey from Sweeney Real Estate & Appraisal have finalized the sale of an industrial building located at 220 Founders Dr. in Woonsocket, RI. Schultheis represented the seller, while Casey represented the buyers, G3 Properties, LLC, in the transaction, which was completed for a price of $1.65 million.

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

$88,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10