Horvath & Tremblay Sells Retail Asset In Cranston, RI For $1.1M
567 Reservoir Avenue
$1,100,000
$136/SF
Building Size
8,068 SF
Asset Type
Retail
Closing
Apr 19, 2024
AI
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.
Players
Cranston 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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93