Updated Dec 4, 2024
Lila Delman Compass Brokers $3M Sale Of Retail Property In South Kingstown
585 Kingstown Road & 603 Kingstown Road
$3,000,000
$75/SF
Building Size
19,900 SF
Asset Type
Retail
Closing
Jun 14, 2024
About this deal
AI
The discreet $3 million sale of Maine’s Shopping Center, located at 585-603 Kingstown Rd. in South Kingstown, RI, has been successfully transacted. The asset is a retail property spanning 19,900 square feet, achieving a price per square foot of $151.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $3,000,000
- Address: 585-603 Kingstown Road
- Market: South Kingstown, RI
- Broker: Gregory Arakelian - Compass
Lila Delman Compass, represented by Gregory Arakelian of Compass, facilitated the deal, guiding the sale to a private investor hailing from the Newport area. The transaction highlights the collaborative effort of industry experts in securing the successful exchange of the retail property.
Players
Wakefield Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Gregory Arakelian to view all their deals.
Browse Wakefield retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93