AAG Management Inc. Acquires Retail Property In Pawtucket, R.I. For $21.6M
SOLD
$21,600,000
Rhode Island
See Similar DealsRetail84,455 SF
Sold 07/08/2020
SOLD
AAG Management Inc. Acquires Retail Property In Pawtucket, R.I. For $21.6M
368-398 Cottage St., Pawtucket, R.I., USA
See Similar DealsRetail84,455 SF
Sold 07/08/2020
Summary
RHODE ISLAND
Asset Type:Retail
Price Per Square Foot:$255
Total Square Footage:84,455 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,152,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$76,740.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$102,395.02
Annual Debt Service$1,228,740.24
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