1521 Main RdMiddletown, RI 02842

Property Details for 1521 Main Rd

Year built

1930

Lot size

0.30 AC

Property size (Sq ft)

2,029 SF

Zone code

GBA

Property type

Other commercial real estate

Property subtype

Showrooms

APN

MIDD M:0111 B:00 L:36A

APU

MIDDM0111B00L36A

Description

This exceptional 2,029 square foot Class B office building, located at 1521 W Main Rd, Middletown, RI 02842, presents a lucrative investment opportunity. Built in 1930 and renovated in 2012, this single-story property boasts two 100% occupied executive suites, generating a strong cash flow. The building sits on a 13,068 square foot corner lot with ample parking (19 spaces) and benefits from a General Business (GBA) zoning designation. Its prime location across from a major shopping center on a heavily trafficked road with a traffic light ensures high visibility and accessibility. Features include a full basement, convenient side and front building access, and a handicapped-accessible walkway. The asking price is $875,000 ($431.25/sq ft), with a net-net lease structure and no rent bumps scheduled. The property is currently fully occupied until July 30, 2024. This is an ideal investment for those seeking a stable, high-return property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $493,118

  6.5%

  $455,186

  7%

  $422,672

• Comparable approach

  Method

  Valuation

  Relative Method

  $668,075

  Geo Method

  $668,075

• Alternative Use

  Use

  Valuation

  Residential

  $383,966

  Hospitality

  $351,711

  Educational

  $292,619

  Medical

  $302,683

  Retail

  $455,186

Location Insight

City

Middletown

County

Newport

State

Rhode Island

Latitude

41.5396

Longitude

-71.2913

CBSA code

39300

CBSA name

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

Property Tax & Assessments

FAQs

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