49 Beach StWesterly, RI 02891

Property Details for 49 Beach St

Year built

1970

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.69 AC

Property size (Sq ft)

9,280 SF

Property type

Showrooms

APN

WEST M:76 B:2

APU

WESTM76B2

Description

This exceptional retail storefront, located at 49 Beach Street in Westerly, Rhode Island, presents a fantastic leasing opportunity. The property boasts 1,000 square feet of vacant space within a larger 1,800 square foot building situated on a 0.69-acre lot. The building, constructed in 1970, is classified as Class B and features a single story. Ample parking is available with 25 spaces provided for tenants and customers. The property is zoned GC General Commercial, allowing for a variety of retail uses. This prime location offers excellent visibility and accessibility, with 200 feet of road frontage and an average daily traffic count of 7,600 vehicles. The property is part of a thriving retail plaza, already home to a diverse mix of established businesses including a coffee shop, pet store, pizza restaurant, and vapor shop, creating a synergistic environment for new tenants. The lease rate for the 1,000 square foot space is $950 per month, plus utilities. This is an ideal opportunity for a business seeking high visibility and a strong customer base in a bustling Westerly location. The zip code is 02891.

• CAP approach

  CAP return

  Valuation

  6%

  $1,755,480

  6.5%

  $1,620,440

  7%

  $1,504,700

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,261,030

  Geo Method

  $1,261,030

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,160,020

  Mixed-Use / Specialty

  $1,614,670

  Hospitality / Lodging

  $1,184,630

  Office

  $1,605,070

  Institutional / Educational

  $1,678,600

  Residential Income

  $1,963,960

  Multifamily

  $2,355,470

  Automotive / Energy

  $1,438,800

  Parking / Income-Based Land

  $496,513

  Restaurant / Food Service

  $839,800

  Healthcare / Senior Housing

  $1,655,810

Location Insight

City

Westerly

County

Washington

State

Rhode Island

Latitude

41.3661

Longitude

-71.8303

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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