Hogan Associates Acquires Mixed Use Property On Mill St In Newport, RI
25 Mill Street, Newport, Rhode Island 02840, United States
$3,050,000
$469/SF
Building Size
6,500 SF
Asset Type
Mixed-use
Closing
Apr 7, 2022
AI
The mixed-use property located at 25 Mill St in Newport, RI has been sold for a price of $3,050,000. The property spans 6,500 square feet, resulting in a price per square foot of $469.
Summary of transaction details
- Property Type: Mixed use
- Transaction Amount: $3,050,000
- Date: 04/08/2022
- Market: Newport, RI
The buyer's representative for this transaction was Tom Rao from Hogan Associates. The seller's representatives were Michelle Drum and Kate Rooney from Gustave White Sotheby's.
Players
Newport 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
5.20%
Cash-on-Cash
-1.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93