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JRW Realty Acquires Retail Property In Cranston, RI For $2.12M

Property Image
SOLD
$2,120,000

Rhode Island

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Retail8,364 SF
Sold 04/30/2021
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Property Image
SOLD

JRW Realty Acquires Retail Property In Cranston, RI For $2.12M

550 Dyer Avenue, Cranston, RI, USA

See Similar Deals
Retail8,364 SF
Sold 04/30/2021
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Summary

RHODE ISLAND
Asset Type:Retail
Price Per Square Foot:$253
Total Square Footage:8,364 SF
Transaction Type:Sale

The retail property located at 550 Dyer Avenue in Cranston, RI was recently sold for a total price of $2,120,000. The property spans 8,364 square feet, resulting in a price per square foot of $253. The transaction took place on April 30, 2021, with Tim Bulman representing the seller through District Real Estate Advisors and JRW Realty serving as the buyer's representative.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $2,120,000
  • Square Footage: 8,364
  • Price per Square Foot: $253
  • Date: 04/30/2021
  • Address: 550 Dyer Avenue, Cranston, RI
  • Market: Cranston, RI
  • Seller's Rep: Tim Bulman - District Real Estate Advisors
  • Buyer's Rep: JRW Realty

The deal was facilitated by Tim Bulman from District Real Estate Advisors, who represented the seller, and JRW Realty, who served as the buyer's representative. This transaction underscores the successful collaboration between these key individuals and companies in the retail real estate market.

Players

Timothy (Tim) Bulman
2 deals$3.9M volume
BROKER

Details

SOLD
IMAGE: Tim Bulman DATE: 04/30/2021 ADDRESS: 550 Dyer Avenue MARKET: Cranston, RI ASSET TYPE: Retail SELLER'S REP: Tim Bulman - District Real Estate Advisors BUYER'S REP: JRW Realty SALE PRICE: $2,120,000 SF: 8,364 ~ PPSF: $253

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$113,066.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,531.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,049.88
Annual Debt Service$120,598.58