Lincoln Memorial School Sells For $1.25M; ZDS To Transform Into Affordable Housing
1624 Lonsdale Avenue
$1,250,000
$91/SF
Building Size
13,602 SF
Asset Type
School
Closing
Mar 8, 2024
AI
The historic Lincoln Memorial School in Lincoln, Rhode Island, sold for $1.25 million. The property, located at 1624 Lonsdale Avenue, spans 13,602 square feet with a price per square foot of $92.
Summary of transaction details:
- Property Type: School
- Transaction Amount: $1,250,000
- Address: 1624 Lonsdale Avenue
- Market: Lincoln, RI
- Broker: Derek Brazeau - Cushman & Wakefield
Hayes & Sherry facilitated the sale of the Lincoln Memorial School. Derek Brazeau, from Cushman & Wakefield, led the transaction. The property will be transformed into affordable housing by ZDS Architecture & Interiors.
Lincoln School Market Snapshot
Boundary boundary · School · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93