Updated Oct 28, 2024
SJT, LLC Acquires Office Property In Cranston, RI For $1.135M
888 Reservoir Avenue, Cranston, RI, USA
$1,135,000
$118/SF
Building Size
9,575 SF
Asset Type
Office
Closing
Aug 12, 2021
About this deal
AI
The sale of an office property in Cranston, RI has taken place at 888 Reservoir Avenue. The property, known as Leeds Mitchell IV, was sold by Kirshenbaum & Kirshenbaum to SJT, LLC. The transaction was facilitated by Leeds Mitchell IV of MG Commercial Real Estate. The property spans 9,575 square feet and was sold for a total price of $1,135,000, resulting in a price per square foot of $119.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,135,000
- Address: 888 Reservoir Avenue, Cranston, RI
- Market: Cranston, RI
Leeds Mitchell IV of MG Commercial Real Estate served as the broker representing the parties involved in the sale of Leeds Mitchell IV. The sale represents a successful transaction between Kirshenbaum & Kirshenbaum and SJT, LLC.
Players
Cranston 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
13.98%
Cash-on-Cash
-3.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93