248 Post RdWesterly, RI 02891

Property Details for 248 Post Rd

Year built

1970

Construction

STEEL FRAME

Lot size

3.07 AC

Property size (Sq ft)

34,465 SF

Property type

Showrooms

APN

WEST M:112 B:23 L:A

APU

WESTM112B23LA

Description

This exceptional retail property, located at 248 Post Rd in Westerly, Rhode Island, presents a unique opportunity for businesses seeking significant space in a high-visibility location. The property, situated at the heavily trafficked "Dunn's Corner" intersection, boasts a total of 34,687 square feet, with 34,690 square feet currently vacant and available for lease. Multiple tenancy options are available, with spaces ranging from a minimum of 15,690 square feet to a maximum contiguous space of 19,000 square feet. This allows for flexibility to accommodate a variety of business needs and scales. The property is ideally situated to benefit from strong demographics, with average household incomes exceeding $100,000 within a three-mile radius, ensuring a robust customer base. Ample parking is provided with 159 spaces available for patrons and employees. The property is located in Washington County, Rhode Island, and has a Westerly, RI zip code of 02891. This prime retail location offers unparalleled visibility and accessibility, making it an exceptional investment opportunity. The property's size and location make it suitable for a wide range of retail uses.

• CAP approach

  CAP return

  Valuation

  6%

  $6,519,680

  6.5%

  $6,018,160

  7%

  $5,588,290

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,683,320

  Geo Method

  $4,683,320

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $11,736,000

  Mixed-Use / Specialty

  $5,996,710

  Hospitality / Lodging

  $4,399,590

  Office

  $5,961,080

  Institutional / Educational

  $6,234,160

  Residential Income

  $7,293,970

  Multifamily

  $8,747,990

  Automotive / Energy

  $5,343,570

  Parking / Income-Based Land

  $1,844,000

  Restaurant / Food Service

  $3,118,930

  Healthcare / Senior Housing

  $6,149,510

Location Insight

City

Westerly

County

Washington

State

Rhode Island

Latitude

41.3524

Longitude

-71.7678

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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