Mixed Use in North Kingstown!
Multi-Family
for Sale
| Catylist Listing ID: |
30802394 |
| Property Subtypes: |
Duplex/Fourplex, Mixed Use
|
| Number of Units: |
6 Units |
| Building Size (RSF): |
3,219 SF |
| Gross Land Area: |
14,810 SF
|
| Sale Price: |
$689,900 |
| Unit Price: |
$114,983.33 Per Unit |
| Property Use Type: |
Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business |
| Building Name: |
6480 Post Road |
| Usable Size (USF): |
3,219 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
6.5% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
5/17/2022 |
Overview / Comments
|
Prominently located with "High Visibility" mixed use building situated directly on the corner of Peachtree Rd & Post Rd with 440 feet of frontage! Currently this property functions with 3 residential units with two office units. Full price offer includes credit at closing for New 5 Bed, 2 office septic system. Office units are perfectly set up for Insurance CO or Accounting needs,ect.. Property provides excellent exposure for commercial needs with over 12,000+ cars per day travelling by this location. Tremendous opportunity to invest in this unique income generating property! Rental income could potentially be even improved from current status. Also, one office unit could possibly be converted to additional residential apartment. One of the two office units is being used as a Law Office currently. This property sits high atop a corner lot including yard,patio and ample paved parking included. More improvements include maintenance free Vinyl siding and replacement windows. Each apartment unit currently rented has it's own private entrance. This property is within minutes of Historic Wickford and rt 4 for easy access to Rt.95. Many possibilities abound with this income gem!
|
Financials
| Finance Data Year |
2021 |
| Real Estate Taxes - Annual($) |
$9,256 (Annual) |
| Tax Value Land |
$222,600 |
| Tax Value Improvements |
$353,600 |
| Tax Value Personal Property |
$0 |
| Assessed Value - Total($) |
$576,200 (Annual) |
| Potential Rental Income |
$62,100 (Annual) |
| Gross Operating Income |
$62,100 (Annual) |
| Net Operating Income |
$44,704 (Annual) |
| Actual or Proforma Year |
Proforma |
Additional Details
| Nearest MSA: |
Providence-Warwick |
| County: |
Washington |
| Taxing Authority: |
North Kingstown |
| Tax ID/APN: |
NK 157-158 |
| Zoning: |
PR |
| Property Located Between: |
East Greenwich & Wickford/Quonset |
| Highway Access: |
Route 4, I-295, I-95 |
| Airports: |
TF Green & Quonset |
| Site Description: |
Corner Lot, High Visibility |
| Area Description: |
North Kingstown Business District |
| Total Number of Buildings: |
1 |
| Property Condition: |
Good |
| Number of Stories: |
3 |
| Year Built: |
1930 |
| Year Renovated: |
2000 |
| Roof Type: |
Gable |
| Construction/Siding: |
Vinyl Siding |
| Exterior Description: |
Low maintenance vinyl. |
| Parking Ratio: |
2 (per 1000 SF) |
| Parking Type: |
Surface |
| Parking Description: |
Surface Lot & Street |
| Total Parking Spaces: |
12 |
| Laundry: |
Shared |
| Sprinklers: |
None |
| Heat Type: |
Oil |
| Heat Source: |
Baseboard |
| Fuel: |
Oil |
| Air Conditioning: |
Other |
| Internet Access: |
Cable, DSL, Gigabit, Fiber Optic |
| Interior Description: |
Prominently located with "High Visibility" mixed use building situated directly on the corner of Peachtree Rd & Post Rd with 440 feet of frontage! Currently this property functions with 3 residential units with two office units. Full price offer includes credit at closing for New 5 Bed, 2 office septic system. Office units are perfectly set up for Insurance CO or Accounting needs,ect.. Property provides excellent exposure for commercial needs with over 12,000+ cars per day travelling by this location. Tremendous opportunity to invest in this unique income generating property! Rental income could potentially be even improved from current status. Also, one office unit could possibly be converted to additional residential apartment. One of the two office units is being used as a Law Office currently. This property sits high atop a corner lot including yard,patio and ample paved parking included. More improvements include maintenance free Vinyl siding and replacement windows. Each apartment unit currently rented has it's own private entrance. This property is within minutes of Historic Wickford and rt 4 for easy access to Rt.95. Many possibilities abound with this income gem! |
| Zoning Description: |
The Post Road district (PR) is established as a mixed use, economic development center. |
| Water Service: |
Municipal |
| Sewer Type: |
Septic |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,787 |
24,357 |
73,982 |
| Median Age: |
41.72 |
44.09 |
43.81 |
| Households: |
2,074 |
9,768 |
30,777 |
|
© Copyright 2001-2022 Catylist. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither East Coast Commercial Property Network nor
Catylist Real Estate Software, Inc. assume any liability for errors or omissions.
|
