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Horvath & Tremblay Completes $4.7 Million Sale Of Retail Center In Providence, RI
SOLD
$4,700,000
+ 1
Rhode Island
See Similar DealsRetail40,526 SF
Sold 04/25/2025
SOLD
Horvath & Tremblay Completes $4.7 Million Sale Of Retail Center In Providence, RI
550 Hartford Avenue
See Similar DealsRetail40,526 SF
Sold 04/25/2025
+ 1
Summary
RHODE ISLAND
Asset Type:Retail
Price Per Square Foot:$116
Total Square Footage:40,526 SF
Transaction Type:Sale
A retail center located at 550 Hartford Avenue in Providence, RI, has been sold for $4,700,000. The property spans 40,526 square feet and is situated on 4.43 acres. It is fully leased to tenants such as Dollar General, Advance Auto Parts, and Subway.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,700,000
- Address: 550 Hartford Avenue
- Market: Providence, RI
- Square Footage: 40,526
- Price Per Square Foot: $116
The successful transaction was facilitated by Matt Nadler, Aaron Huntley, Bob Horvath, and Jack Laurendeau of Horvath & Tremblay, who represented the brokerage in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$250,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,698.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,280.40
Annual Debt Service$267,364.77
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