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2200 Hartford Avenue

Bearboy Holdings LLC Acquires Mixed-Use Property In Johnston For $2.6M
SOLDMixed-use

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

Chris Greenman

Capstone Properties

Broker

$9.1M

vol

3 deals

Broker

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