515 Kingstown RdSouth Kingstown, RI 02879

Property Details for 515 Kingstown Rd

Year built

1970

Construction

FRAME

Lot size

1.37 AC

Property size (Sq ft)

5,702 SF

Zone code

CH

Property type

Showrooms

APN

SKIN P:057-3 L:000047

APU

SKINP0573L000047

Description

This exceptional investment opportunity presents a 1.37-acre commercially zoned parcel at 515 Kingstown Road, South Kingstown, RI 02879. The property boasts high visibility and ample parking for 68 vehicles, strategically located just off Route 1. The existing 5,700 square foot building, constructed in 1970, is currently occupied by a Mexican restaurant under a five-year triple-net lease, providing immediate cash flow. The substantial 59,677 square foot lot offers significant potential for redevelopment while maintaining a strong cap rate with the existing lease in place. This single-unit property presents a compelling opportunity for investors seeking a stable income stream with future development possibilities. The property's prime location and substantial lot size make it an attractive proposition for a variety of commercial uses. Serious inquiries are encouraged to explore this lucrative investment further. The sale includes the land and building only

• CAP approach

  CAP return

  Valuation

  6%

  $1,385,785

  6.5%

  $1,279,186

  7%

  $1,187,816

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,877,459

  Geo Method

  $1,877,459

• Alternative Use

  Use

  Valuation

  Residential

  $1,079,041

  Hospitality

  $988,396

  Educational

  $822,334

  Medical

  $850,615

  Retail

  $1,279,186

Location Insight

City

South Kingstown

County

Washington

State

Rhode Island

Latitude

41.4383

Longitude

-71.4858

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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