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141-145 Wayland Avenue, Pro...

Wayland, LLC Acquires Office Building On Wayland Avenue, Providence, RI For $1.2M
SOLDOffice

Wayland, LLC Acquires Office Building On Wayland Avenue, Providence, RI For $1.2M

141-145 Wayland Avenue, Providence, RI, USA

$1,225,000

$217/SF

Building Size

5,622 SF

Asset Type

Office

Closing

Sep 10, 2021

AI

Located in Providence, RI, the property at 141-145 Wayland Avenue & 137 East Manning St. recently changed hands in a closed transaction. The asset in question is an office building, spanning a total of 5,622 square feet. The sale took place on 09/10/2021 at a price of $1,225,000, resulting in a price per square foot of $218. The transaction was facilitated by Pam Hanson Carbone from Domain Properties, representing the seller, and Kevin Casey from Sweeney Real Estate & Appraisal, representing the buyer, Wayland, LLC.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,225,000
  • Address: 141-145 Wayland Avenue & 137 East Manning St., Providence, RI
  • Square Footage: 5,622
  • Price per Square Foot: $218
  • Date: 09/10/2021
  • Seller's Representative: Pam Hanson Carbone - Domain Properties
  • Buyer's Representative: Kevin Casey - Sweeney Real Estate & Appraisal

With Wayland, LLC as the buyer, and the respective representatives fully involved in the transaction, this sale marks a significant event in the local real estate market. The property's location in Providence makes it a valuable asset, and the deal's completion showcases the expertise and negotiation skills of the involved parties. The purchase of this office building demonstrates the continued investment and activity in the commercial real estate sector.

Players

Kevin Casey

Sweeney Real Estate & Appraisal

Broker

$9.8M

vol

5 deals

Broker

Providence 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

12.95%

Cash-on-Cash

-3.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93