Updated Oct 29, 2024
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
Cranston Office Market Snapshot
Boundary boundary · Office · Sale transactions
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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