This exceptional commercial property, located at 267 Post Road in Westerly, Rhode Island, presents a unique investment opportunity. Situated within the well-maintained Spindrift Village plaza, this 1,800 square foot space offers a flexible floor plan ideal for a variety of uses. The property is zoned for numerous retail and service businesses, providing limitless potential for entrepreneurs and established companies alike. Built in 1984, the single-story building sits on a substantial 181,645 square foot lot, providing ample parking for customers and employees. A key feature is the convenient rear service/employee entrance, enhancing operational efficiency. The unit also includes a private bathroom. The high traffic count and prominent location within Spindrift Village ensure excellent visibility and accessibility, making this an attractive proposition for businesses seeking a strong presence in the Westerly market. The property is available for immediate lease and is part of a larger 1-unit complex. The zip code is 02891, and the property is located in Washington County. This is a rare opportunity to secure a well-located, versatile commercial space in a thriving Rhode Island community.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$6,079,290
6.5%
$5,611,660
7%
$5,210,820
Comparable approach
Method
Valuation
Relative Method
$4,366,980
Geo Method
$4,366,980
Alternative Use
Use
Valuation
Industrial / Distribution
$10,943,300
Mixed-Use / Specialty
$5,591,650
Hospitality / Lodging
$4,102,420
Office
$5,558,430
Institutional / Educational
$5,813,060
Residential Income
$6,801,280
Multifamily
$8,157,090
Automotive / Energy
$4,982,620
Parking / Income-Based Land
$1,719,440
Restaurant / Food Service
$2,908,260
Healthcare / Senior Housing
$5,734,130
Location Insight
City
Westerly
County
Washington
State
Rhode Island
Latitude
41.351
Longitude
-71.7638
CBSA code
39300
CBSA name
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
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Post Rd Westerly, RI 02891
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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