U.S. Properties Real Estate Services Sells 1 Crosswind Road Office Building For $2.5M In Westerly
1 Crosswind Road
$2,500,000
$71/SF
Building Size
34,815 SF
Asset Type
Office
Closing
Dec 13, 2024
AI
The property involved in this transaction is an office building located at 1 Crosswind Road in the Westerly Industrial Park. The asset was sold for $2,500,000, featuring a total square footage of 34,815, which translates to a price per square foot of $72.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,500,000
- Address: 1 Crosswind Road
- Market: Westerly, RI
- Square Footage: 34,815
- Price per Square Foot: $72
- Seller: U.S. Properties Real Estate Services
- Broker Representatives: Derek Brazeau & Peter Hayes - Cushman & Wakefield
Hayes & Sherry facilitated the purchase representing a local buyer, marking U.S. Properties Real Estate Services' second major transaction in the Westerly Industrial Park within the year.
Players
Westerly 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93