Yiqiag Chen Acquires Retail Property In Warwick, RI For $1.725M

The retail property located at 120 Lambert Lind Highway in Warwick, RI has been sold for $1,725,000. The transaction took place on August 13, 2021, and the property spans 18,000 square feet, resulting in a price per square foot of $96. The sale was completed with a 9.68% capitalization rate. The seller, Damar Realty, LLC, transferred the property to the buyer, Yiqiag Chen, in this closed transaction.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,725,000
• Market: Warwick, RI

Michael Alves and Arnold Baskin from Elite Group - KW Commercial represented both parties as the brokers in this retail property sale. Their expertise and assistance facilitated the smooth completion of the transaction.