Greenberg Gibbons Acquires Retail Assets In North Providence, RI & Westminster, MD For $34.6M
41 Smithfield Rd, North Providence, RI, USA
$34,600,000
$169/SF
Building Size
204,000 SF
Asset Type
Retail
Closing
Sep 29, 2021
AI
Greenberg Gibbons has acquired a retail property located at 41 Smithfield Rd in North Providence, RI and 200 Clifton Road in Westminster, MD. The transaction took place on September 29, 2021. The property has a total square footage of 204,000 and was sold for $34,600,000, resulting in a price per square foot of $170.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $34,600,000
- Address: 41 Smithfield Rd & 200 Clifton Road
- Market: North Providence, RI & Westminster, MD
- Buyer: Greenberg Gibbons - Eric Walter & Thomas Falatko
- Square Footage: 204,000
- Price per Square Foot: $170
Eric Walter and Thomas Falatko represented Greenberg Gibbons as their broker in this transaction.
Players
North Providence 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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93