56 Fortin RdSouth Kingstown, RI 02881

Property Details for 56 Fortin Rd

Year built

1993

Construction

FRAME

Lot size

0.34 AC

Property size (Sq ft)

1,792 SF

Zone code

CN

Property type

Showrooms

APN

SKIN P:023-2 L:000007

APU

SKINP0232L000007

Description

This exceptional commercial property presents a rare opportunity to acquire a thriving business in South Kingstown, Rhode Island. Located at 56 Fortin Road, 02881, this 15,682 square foot lot features a single building constructed in 1930. The property currently operates as a successful coffee/bagel shop, "Bru," which has been established for over four years. The business is currently leased at an attractive rate and operates seasonally, primarily during the academic year. This presents significant upside potential for a new owner to expand operations to a full twelve-month schedule. The property's proximity to the University of Rhode Island campus provides a built-in customer base, and the opportunity exists to further increase revenue by catering to sporting events. The sale includes the established "Bru" brand, a branded Jeep, all existing fixtures, and supplies. Easy staffing with URI students is an added benefit. The asking price for this turnkey operation is $80,000. This is a unique opportunity to own a well-established business with significant growth potential in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $435,519

  6.5%

  $402,017

  7%

  $373,302

• Comparable approach

  Method

  Valuation

  Relative Method

  $590,040

  Geo Method

  $590,040

• Alternative Use

  Use

  Valuation

  Residential

  $339,116

  Hospitality

  $310,629

  Educational

  $258,440

  Medical

  $267,328

  Retail

  $402,017

Location Insight

City

Kingston

County

Washington

State

Rhode Island

Latitude

41.4843

Longitude

-71.5236

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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