51 Worthington Rd
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51 Worthington Rd
22,525 SF Industrial Building Cranston, RI 02920 £2,256,849 (£100/SF) 7.69% Net Initial Yield
Investment Highlights
- Brand new 358 Panel Solar Array with a 20 year lease agreement with Rhode Island Rene
- 2023 New Roof with a 20 year warranty
- Easy access to two major highways: Routes 95 & 295
- 100% NNN Leased. Newly executed lease extension to October 31, 2029
- 2024 New Electrical Transformer
- New Led Lighting throughout the building installed by RISE Energy
Executive Summary
Prime Investment Property has two separate sources of income.
Property Facts
| Price | £2,256,849 | Rentable Building Area | 22,525 SF |
| Price Per SF | £100 | Number of Floors | 2 |
| Sale Type | Investment NNN | Year Built | 1965 |
| Net Initial Yield | 7.69% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1.33/1,000 SF |
| Property Subtype | Manufacturing | Clear Ceiling Height | 15 ft |
| Building Class | C | No. Dock-High Doors/Loading | 2 |
| Lot Size | 1.09 AC | Level Access Doors | 2 |
| Price | £2,256,849 |
| Price Per SF | £100 |
| Sale Type | Investment NNN |
| Net Initial Yield | 7.69% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 1.09 AC |
| Rentable Building Area | 22,525 SF |
| Number of Floors | 2 |
| Year Built | 1965 |
| Tenancy | Single |
| Parking Ratio | 1.33/1,000 SF |
| Clear Ceiling Height | 15 ft |
| No. Dock-High Doors/Loading | 2 |
| Level Access Doors | 2 |
Amenities
- Bus Route
- Conferencing Facility
- Fenced Lot
- Floor Drains
- Front Loading
- Security System
- Signage
- Wheelchair Accessible
- Reception
- Storage Space
- Recessed Lighting
- Fluorescent Lighting
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Goodyear Tire and Rubber Company
- Manufacturing
- 22,525 SF
- £5.77
- Triple Net
- Oct 2029
- Rhode Island Renewable Energy
- Utilities
- 18,000 SF
- £2.42
- -
- Mar 2044
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Goodyear Tire and Rubber Company | Manufacturing | 22,525 SF | £5.77 | Triple Net | Oct 2029 | |
| Rhode Island Renewable Energy | Utilities | 18,000 SF | £2.42 | - | Mar 2044 |
PROPERTY TAXES
| Parcel Number | CRAN-000010-000004-000758 | Improvements Assessment | £971,897 |
| Land Assessment | £187,770 | Total Assessment | £1,159,667 |
PROPERTY TAXES
Parcel Number
CRAN-000010-000004-000758
Land Assessment
£187,770
Improvements Assessment
£971,897
Total Assessment
£1,159,667
zoning
| Zoning Code | M2 (Zoned for heavy industrial/manufacturing) |
| M2 (Zoned for heavy industrial/manufacturing) |
-
Anthony Silvestri - Silvestri Leasing Company
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51 Worthington Rd
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