Westbrook Partners Acquires Office Property In East Providence For $5.8M
SOLD
$5,800,000
Rhode Island
See Similar DealsOffice
Sold 01/14/2022
SOLD
Westbrook Partners Acquires Office Property In East Providence For $5.8M
25 Fairmount Ave, East Providence, Rhode Island 02914, United States
See Similar DealsOffice
Sold 01/14/2022
Summary
RHODE ISLAND
Asset Type:Office
Transaction Type:Sale
The office property located at 25 Fairmount Ave in East Providence, RI has been sold. The transaction took place on January 14, 2022. The property spans 7.8 acres and is situated in the market of East Providence, RI. The sale price for this property was $5,800,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,800,000
- Address: 25 Fairmount Ave, East Providence, RI
- Market: East Providence, RI
- Acres: 7.8
The buyer of this property was Westbrook Partners, while the seller was 25 Fairmount LLC. The transaction was facilitated by George Paskalis & Leeds Mitchell IV from MG Commercial Real Estate.
Players
BUYER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$309,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51
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