Yiqiag Chen Acquires Retail Property In Warwick, RI For $1.725M
SOLD
$1,725,000
Rhode Island
See Similar DealsRetail18,000 SF
Sold 08/13/2021
SOLD
Yiqiag Chen Acquires Retail Property In Warwick, RI For $1.725M
120 Lambert Lind Highway, Warwick, RI, USA
See Similar DealsRetail18,000 SF
Sold 08/13/2021
Summary
RHODE ISLAND
Asset Type:Retail
Price Per Square Foot:$95
Total Square Footage:18,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$91,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,128.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,177.38
Annual Debt Service$98,128.56
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