For Sale
$808,437

963-969 Victory Hwy Burrillville, RI 02839

USPS-anchored, multi-tenant storefront.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional investment opportunity presents a 5,015 square foot, fully occupied, multi-tenant storefront property located at 963-969 Victory Hwy, Burrillville, RI 02839. The property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $64,675. The anchor tenant is the United States Post Office, which recently signed a five-year lease extension, providing exceptional security and stability. This two-story building, constructed in 1945, sits on a 0.32-acre lot and features a diverse tenant mix including a post office, apartment, office, and garage. The property is offered fee simple and benefits from its location within the Providence MSA, a thriving market with robust employment in healthcare, education, and government sectors. Major employers in the area include Lifespan Health System, Brown University, Rhode Island Hospital, and Amica Mutual Insurance, contributing to low vacancy rates and strong demand for commercial properties. Ongoing developments further enhance the area's economic growth potential. The property's APN is BURR M: 196 L:011. This is a rare opportunity to acquire a secure, high-performing investment property with a government-backed lease.

Highlights

  • Excellent multi-tenant investment opportunity with a long-term, government-backed lease.
  • Fully occupied mixed-use property featuring a post office, apartment, office, and garage.
  • Secure, low-risk investment due to the federal government-backed Post Office lease, recently extended for five years.
  • Prime location in the Providence MSA, Rhode Island's largest metropolitan area.
  • Strong market fundamentals driven by major employers like Lifespan, Brown University, Rhode Island Hospital, and Amica Mutual.
  • Low vacancy rates and ongoing developments create high demand for mixed-use properties in the area.

Property Details for 963-969 Victory Hwy

Property type
Retail properties, Retail space
Square Feet
5,015 SF
Year Built
1945
Buildings
1
Stories
2
Lot Size (sq. ft)
13,939 SF

Location Insight

City
Burrillville
County
Providence
State
Rhode Island
Latitude
41.953079881424
Longitude
-71.649574745757

FAQs

What type of property is this?
Retail property - USPS-anchored, multi-tenant storefront.
Where is the retail property located?
The property is located at 963-969 Victory Hwy Burrillville, RI.
What is the asking price?
The asking price for this property is $808,437.
What are key features of this property?
This property features: Excellent multi-tenant investment opportunity with a long-term, government-backed lease.; Fully occupied mixed-use property featuring a post office, apartment, office, and garage.; Secure, low-risk investment due to the federal government-backed Post Office lease, recently extended for five years.
How can I contact the broker?
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963-969 Victory Hwy
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