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U.S. Properties Real Estate Services Sells 1 Crosswind Road Office Building For $2.5M In Westerly

Property Image
SOLD
$2,500,000
Peter Hayes
Derek Brazeau

Rhode Island

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Office34,815 SF
Sold 12/13/2024
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Property Image
SOLD

U.S. Properties Real Estate Services Sells 1 Crosswind Road Office Building For $2.5M In Westerly

1 Crosswind Road

See Similar Deals
Office34,815 SF
Sold 12/13/2024
Peter Hayes
Derek Brazeau
the dealplayerscompscontact
Contact now

Summary

RHODE ISLAND
Asset Type:Office
Price Per Square Foot:$71
Total Square Footage:34,815 SF
Transaction Type:Sale

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

Derek Brazeau
Cushman & Wakefield
Derek Brazeau
5 deals$11.3M volume
BROKER
Peter Hayes
Cushman & Wakefield
Peter Hayes
3 deals$5.9M volume
BROKER

Details

SOLD
IMAGE: 12/13/2024 ADDRESS: 1 Crosswind Road MARKET: Westerly, RI ASSET TYPE: Office SELLER: U.S. Properties Real Estate Services BROKERS: Derek Brazeau & Peter Hayes - Cushman & Wakefield SALE PRICE: $2,500,000 SF: 34,815 ~ PPSF: $72 NOTE: Hayes & Sherry facilitated the $2.5 million purchase of 1 Crosswind Rd. in Westerly Industrial Park, representing a local buyer. The 34,815 sq. ft. building was sold by U.S. Properties Real Estate Services, marking the firm's second major transaction in the park this year.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31