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Horvath & Tremblay Sells Retail Asset In Cranston, RI For $1.1M
SOLD
$1,100,000
Rhode Island
See Similar DealsRetail8,068 SF
Sold 04/19/2024
SOLD
Horvath & Tremblay Sells Retail Asset In Cranston, RI For $1.1M
567 Reservoir Avenue
See Similar DealsRetail8,068 SF
Sold 04/19/2024
Summary
RHODE ISLAND
Asset Type:Retail
Price Per Square Foot:$136
Total Square Footage:8,068 SF
Transaction Type:Sale
The sale involved Mega Plaza, a retail property located at 567 Reservoir Avenue in Cranston, RI. The transaction closed on 04/19/2024, with a sale price of $1,100,000 for the 8,068 square foot asset, translating to a price per square foot of $136.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,100,000
- Address: 567 Reservoir Avenue
- Market: Cranston, RI
The sale was facilitated by Aaron Huntley, Robert Horvath, and Sean Mullaney of Horvath & Tremblay. The trio represented the seller in the transaction, showcasing their expertise in closing deals within the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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