Johnson & Wales University Sells Mixed-use Property In Providence, RI For $1.6M
SOLD
$1,600,000
Rhode Island
See Similar DealsMixed-use13,000 SF
Sold 11/12/2021
SOLD
Johnson & Wales University Sells Mixed-use Property In Providence, RI For $1.6M
101 Richmond Street, Providence, RI, USA
See Similar DealsMixed-use13,000 SF
Sold 11/12/2021
Summary
RHODE ISLAND
Asset Type:Mixed-use
Price Per Square Foot:$123
Total Square Footage:13,000 SF
Transaction Type:Sale
The mixed-use property located at 101 Richmond Street in Providence, RI has been sold in a closed transaction. The seller of the property was Johnson & Wales University (JWU).
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,600,000
- Address: 101 Richmond Street, Providence, RI
- Market: Providence, RI
- Square Footage: 13,000
- Price per Square Foot: $123
The transaction was facilitated by the brokers Matt Fair and Peter Hayes from Cushman & Wakefield Hayes & Sherry. They represented JWU in the sale of the property.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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