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Washington Trust Company Sells Mixed-Use Property In Westerly, RI For $1.775M
SOLD
$1,775,000
Rhode Island
See Similar DealsMixed-use17,500 SF
Sold 06/14/2024
SOLD
Washington Trust Company Sells Mixed-Use Property In Westerly, RI For $1.775M
2 Crosswind Road
See Similar DealsMixed-use17,500 SF
Sold 06/14/2024
Summary
RHODE ISLAND
Asset Type:Mixed-use
Price Per Square Foot:$101
Total Square Footage:17,500 SF
Transaction Type:Sale
The property located at 2 Crosswind Road in Westerly, RI, spans 1.59 acres and features a mixed-use asset. The sale price for this property was $1,775,000, with a total square footage of 17,500 and a price per square foot of $101.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $1,775,000
- Address: 2 Crosswind Road
- Market: Westerly, RI
- Seller: The Washington Trust Company
- Brokers: Derek Brazeau & Peter Hayes - Cushman & Wakefield
- SF: 17,500
- PPSF: $101
Pete Hayes and Derek Brazeau of Hayes & Sherry, a Cushman & Wakefield alliance member, were the brokers who facilitated the $1.775 million sale of the property at 2 Crosswind Rd in early May on behalf of the seller, The Washington Trust Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$94,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,306.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,414.41
Annual Debt Service$100,972.87
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