Paolino Properties Acquires Mixed-Use Property In Providence, RI For $6.55M
10 Dorrance Street, Providence, Rhode Island 02903, United States
$6,550,000
Building Size
—
Asset Type
Mixed-use
Closing
Apr 7, 2022
AI
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.
Players
Providence Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.42%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93