Bearboy Holdings LLC Acquires Mixed-Use Property In Johnston For $2.6M
2200 Hartford Avenue
$2,600,000
$161/SF
Building Size
16,097 SF
Asset Type
Mixed-use
Closing
May 10, 2024
AI
The property at 2200 Hartford Avenue in Johnston, RI, was sold for $2,600,000. The 16,097 square-foot mixed-use building sits on 3.93 acres and was previously occupied by Progressive Casualty Insurance Co. The price per square foot was $162.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,600,000
- Buyer: Bearboy Holdings LLC
- Seller: Progressive Casualty Insurance Co
- Brokers: Chris Greenman & Neil Amper - Capstone Properties
- Address: 2200 Hartford Avenue, Johnston, RI
- Market: Johnston, RI
- SF: 16,097
- PPSF: $162
Capstone Properties, led by Chris Greenman and Neil Amper, spearheaded the transaction, ensuring the successful sale of the property. The 16,097 square-foot building on 3.93 acres transitioned ownership from Progressive Casualty Insurance Co to Bearboy Holdings LLC, marking a significant milestone for all parties involved.
Players
Johnston 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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93