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1 Capital Way Cranston, Rho...

Updated Oct 29, 2024

Comprehensive Community Action Acquires 22,500 SF Office Building In Cranston, RI For $3.15M
SOLDOffice

Comprehensive Community Action Acquires 22,500 SF Office Building In Cranston, RI For $3.15M

1 Capital Way Cranston, Rhode Island 02910, USA

$3,150,000

$140/SF

Building Size

22,500 SF

Asset Type

Office

Closing

Jun 9, 2023

About this deal

AI

A 22,500 square foot office building located at 1 Capital Way in Cranston, RI has been sold for $3.15 million. The property was purchased by Comprehensive Community Action, Inc. and will serve as their administrative office space. The sale was facilitated by MG Commercial, represented by Mike Giuttari and Leeds Mitchell. The property also has an existing tenant, CLA, an accounting firm.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $3,150,000
  • Square Footage: 22,500
  • Price per Square Foot: $140
  • Address: 1 Capital Way, Cranston, RI
  • Market: Cranston, RI
  • Seller: WJS
  • Brokers: Mike Giuttari & Leeds Mitchell - MG Commercial

The sale of the office building at 1 Capital Way in Cranston, RI was facilitated by Mike Giuttari and Leeds Mitchell of MG Commercial. Comprehensive Community Action, Inc. purchased the property for $3.15 million and will utilize it as their administrative office space. The property will also continue to house CLA, an accounting firm.

Players

Mike Giuttari

Broker

$25.3M

vol

6 deals

Broker

Cranston Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $140 per square foot on a published $3.2M for 22,500 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.04%

Cash-on-Cash

-1.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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