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Francis Maclean Realty Trust Acquires Industrial Asset From Coneco Realty LLC For $3M In Pawtucket

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SOLD
$3,000,000

Rhode Island

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Industrial39,000 SF
Sold 08/08/2025
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Property Image
SOLD

Francis Maclean Realty Trust Acquires Industrial Asset From Coneco Realty LLC For $3M In Pawtucket

402 Walcott Street

See Similar Deals
Industrial39,000 SF
Sold 08/08/2025
the dealplayerscompscontact
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Summary

RHODE ISLAND
Asset Type:Industrial
Price Per Square Foot:$76
Total Square Footage:39,000 SF
Transaction Type:Sale

An industrial asset located at 402 Walcott Street in Pawtucket, RI, has been sold for a transaction amount of $3,000,000. The property encompasses a total square footage of 39,000, achieving a price per square foot of $77.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,000,000
  • Buyer: Francis Maclean Realty Trust
  • Seller: Coneco Realty LLC
  • Broker: Eric O’Brien - O'Brien Commercial Properties
  • Square Footage: 39,000
  • Price per Square Foot: $77

Eric O’Brien represented both parties in this transaction, highlighting the asset's fully leased status and its multi-tenant nature. He noted the prime location of the property, which was a significant factor in the deal.

Players

Eric O’Brien
O'Brien Commercial Properties
Eric O’Brien
5 deals$10.1M volume(978) 369-5501
BROKER
O'Brien Commercial Properties
O'Brien Commercial Properties
BROKERAGE

Details

SOLD
IMAGE: 08/08/2025 ADDRESS: 402 Walcott Street MARKET: Pawtucket, RI ASSET TYPE: Industrial BUYER: Francis Maclean Realty Trust SELLER: Coneco Realty LLC BROKER: Eric O’Brien - O'Brien Commercial Properties SALE PRICE: $3,000,000 SF: 39,000 ~ PPSF: $77 NOTE: O’Brien Commercial Properties sold a fully leased 39,000 sq ft multi-tenant flex building at 402–404 Walcott St. for $3 million to Francis Maclean Realty Trust, with Eric O’Brien handling both sides of the deal. O’Brien highlighted the property’s prime location and the $77 per sq ft price as a rare market opportunity.

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

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37