Prime location, very rare opportunity to own a free standing commercial building in the Town of Barrington. Ideal investment for either a business owner operator or a passive investor. Current business is a month to month tenancy, and has occupied this building for 30 years, rent is below market average (projections and financials by request), prime option for NNN lease. Buyer has full flexibility as there is no current lease in place. Current tenant could sign a lease with the new owner or the new owner can exercise the 30 day right to cancel the tenancy. The Building is constructed of concrete block, has a flat rubber roof, a wood frame addition along with all new HVAC units was installed just several years ago. Connected to town water, sewer, and gas. Plenty of electric panels to power most any uses. Currently used as a Child Care center for the past 30 years by the same company. Lots of paved parking along with an overflow parking area in the back of the property that could serve a
64 Bay Spring Ave, Barrington, RI, 02806
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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