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
Providence Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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