Updated Oct 28, 2024
GP Pier Retail LLC Sells Retail Property In Narragansett, RI For $1.8M
1-23 Pier Market Place, Narragansett, RI, USA
$1,800,000
$107/SF
Building Size
16,731 SF
Asset Type
Retail
Closing
May 14, 2020
About this deal
AI
The retail property located at 1-23 Pier Marketplace in Narragansett, RI has been sold for $1,800,000. The property spans across 16,731 square feet, resulting in a price per square foot of $108. The transaction took place on May 14, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1,800,000
- Address: 1-23 Pier Marketplace, Narragansett, RI
- Square Footage: 16,731
- Price per Square Foot: $108
- Date of Sale: 05/14/2021
- Seller: GP Pier Retail LLC
- Broker: Gregory Arakelian - Lila Delman Real Estate
The sale of this retail property was facilitated by Gregory Arakelian of Lila Delman Real Estate, representing the seller, GP Pier Retail LLC. The transaction represents a successful deal in the Narragansett market.
Players
Narragansett Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93