SJT, LLC Acquires Office Property In Cranston, RI For $1.135M
SOLD
$1,135,000
Rhode Island
See Similar DealsOffice9,575 SF
Sold 08/13/2021
SOLD
SJT, LLC Acquires Office Property In Cranston, RI For $1.135M
888 Reservoir Avenue, Cranston, RI, USA
See Similar DealsOffice9,575 SF
Sold 08/13/2021
Summary
RHODE ISLAND
Asset Type:Office
Price Per Square Foot:$118
Total Square Footage:9,575 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$60,533.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,032.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,380.48
Annual Debt Service$64,565.75
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