Commercial/Mixed Use Property

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30169934
Property Subtypes: Executive Suites, Medical, Mixed Use, Office Building
Status: Pending/Contingent
Building Size (RSF): 2,100 SF
Gross Building Area: 2,288 SF
Gross Land Area: 0.42 Acres
Sale Price: $299,900 - 309,900
Unit Price: $142.81 - 147.57 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Main Street
Sale Terms: Sale/Leaseback, Other
Cap Rate: 5.0%
Average Occupancy Rate: 100
Last Updated: 1/30/2018

Overview / Comments

A rare Riverfront Opportunity! This Commercial building/property has plenty of potential. Property offers ample parking, Downtown location and views of the Pawcatuck River! Easy access to highways help to make this a perfect location! Currently unit #1 is an attorneys office and the other unit is a Hairdresser. Possibilities are endless for this location, "the gateway to Main St, Downtown" Possible water access/dock, but must do own "due diligence" for more information. Possible second floor could be added. Rubber roof, lifetime warranty, stone fireplace "for ambiance," 3 baths, a/c and heat mini splits and gas. Vinyl siding done 3 years ago. Inside renovated 2015, added $40K worth of renovations. Gas heat on one side and electric on the other side. About 40 parking spaces. Flood insurance needed, received quote for $2500/year.

Attachments & Media

Additional Details

Nearest MSA: Providence-Warwick
County: Washington
Taxing Authority: 11/11
Zoning: DC11
Property Located Between: Historic downtown Westerly
Property Visibility: Excellent
Highway Access: 10 Mins from location
Airports: Westerly Airport
Site Description: 35 Parking spaces, high visibility, great location, minutes to the beach.
Area Description: Commercial Mixed use
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,100 SF
Year Built: 1963
Year Renovated: 2016
Roof Type: Flat
Construction/Siding: Vinyl Siding
Exterior Description: Well maintained, vinyl siding, new windows, new roof.
Parking Ratio: 40 (per 1000 SF)
Parking Type: Surface
Parking Description: 40 Reserved spaces
Total Parking Spaces: 40
Heat Type: Electricity, Natural Gas, Propane, Space Heaters
Heat Source: Baseboard, Ceiling Units
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: Fireplace (decorative), 3-4 office spaces, conference room on the left side, hairdresser on right side, with 3 rooms..
Zoning Description: Commerical
Lot Frontage: 120
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: (5 spaces deeded to neighbor)

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,305 28,030 42,564
Median Age: 41.69 43.13 44.43
Households: 3,535 11,943 17,952


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