Paolino Properties Acquires Mixed-Use Property In Providence, RI For $6.55M
SOLD
$6,550,000
+ 1
Rhode Island
See Similar DealsMixed-use
Sold 04/08/2022
SOLD
Paolino Properties Acquires Mixed-Use Property In Providence, RI For $6.55M
10 Dorrance Street, Providence, Rhode Island 02903, United States
See Similar DealsMixed-use
Sold 04/08/2022
+ 1
Summary
RHODE ISLAND
Asset Type:Mixed-use
Transaction Type:Sale
The mixed-use property located at 10 Dorrance St in Providence, RI has been sold for a total price of $6,550,000. The transaction took place on 04/08/2022.
Summary of transation details
- Property Type: Mixed use
- Transaction Amount: $6,550,000
- Market: Providence, RI
- Buyer: Paolino Properties
- Seller: Robert Day, LLC
- Brokers: Thomas Sweeney - Sweeney Real Estate & Appraisal, Frank Petz, Brooke Howard & John Nasca - Colliers
The buyer, Paolino Properties, acquired the property from the seller, Robert Day, LLC. The deal was facilitated by brokers Thomas Sweeney from Sweeney Real Estate & Appraisal, and Frank Petz, Brooke Howard, and John Nasca from Colliers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$349,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,270.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,050.34
Annual Debt Service$372,604.10
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