Updated Oct 28, 2024
AAG Management Inc. Acquires Retail Property In Pawtucket, R.I. For $21.6M
368-398 Cottage St., Pawtucket, R.I., USA
$21,600,000
$255/SF
Building Size
84,455 SF
Asset Type
Retail
Closing
Jul 8, 2020
About this deal
AI
A retail property located at 368-398 Cottage St in Pawtucket, R.I., was recently sold at a transaction valued at $21,600,000. The property spans a total of 84,455 square feet, resulting in a price per square foot of $256. Situated on a 14.6-acre plot, the property was sold at an average price of $1,479,452 per acre.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $21,600,000
- Address: 368-398 Cottage St, Pawtucket, R.I.
- Market: Pawtucket, R.I.
The buyer in this transaction was AAG Management Inc. Representing the buyer were Jim Koury, Dean Zang, and David Crotts from Institutional Property Advisors (IPA) under Marcus & Millichap. Their expertise and guidance played a significant role in completing the deal successfully.
Players
Pawtucket 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
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93