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Chip Conk Montecito Medical Acquires 67186 SF Medical Office In Warwick RI For $36M
SOLD
$36,000,000
Rhode Island
See Similar DealsMedical Office67,186 SF
Sold 08/04/2025
SOLD
Chip Conk Montecito Medical Acquires 67186 SF Medical Office In Warwick RI For $36M
300 Crossings Boulavard
See Similar DealsMedical Office67,186 SF
Sold 08/04/2025
Summary
RHODE ISLAND
Asset Type:Medical Office
Price Per Square Foot:$535
Total Square Footage:67,186 SF
Transaction Type:Sale
The property is a Medical Office asset located at 300 Crossings Boulavard in Warwick, RI. It comprises 67,186 square feet and sold for $36,000,000, or $536 per square foot. The asset is described as an orthopedic and surgery center within the Warwick market.
Summary of transation details:
- Property Type: Medical Office
- Transaction Amount: $36,000,000
- Buyer: Chip Conk - Montecito Medical
- Broker: Matt Fair - Cushman & Wakefield
- Note: Northeast portfolio expansion
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,920,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40
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