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372 Thames Street

Updated Jan 23, 2025

Jameson Brown Sells Mixed-Use Property In Newport For $3.8M With Leeds Mitchell IV And Stephen Girolamo
SOLDMixed-use

Jameson Brown Sells Mixed-Use Property In Newport For $3.8M With Leeds Mitchell IV And Stephen Girolamo

372 Thames Street

$3,800,000

$313/SF

Building Size

12,132 SF

Asset Type

Mixed-use

Closing

Jan 16, 2025

About this deal

AI

The property asset involved in this transaction is a mixed-use building located at 372 Thames Street in Newport, RI. The sale price for this property was $3,800,000, with a total square footage of 12,132, which equates to a per square foot price of approximately $313.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,800,000
  • Address: 372 Thames Street
  • Market: Newport, RI
  • Square Footage: 12,132
  • Price Per Square Foot: $313
  • Seller: Jameson Brown
  • Buyer's Representative: Stephen Girolamo - Horvath & Tremblay
  • Seller's Representative: Leeds Mitchell IV

This transaction was facilitated by Stephen Girolamo, who represented the buyer, while Leeds Mitchell IV represented the seller. Their involvement underscores the collaborative effort between the respective agencies in executing this closed property transaction.

Players

Leeds Mitchell IV

Broker

$13.9M

vol

4 deals

Broker

Newport Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $313 per square foot on a published $3.8M for 12,132 square feet (2025).

Visit Stephen Girolamo to view all their deals.

Browse Newport mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.17%

Cash-on-Cash

-1.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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