16 Broad St.

Retail-Commercial for Sale
Catylist Listing ID: 30343153
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 6,059 SF
Gross Building Area: 8,656 SF
Gross Land Area: 0.05 Acres
Sale Price: $750,000
Unit Price: $123.78 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Usable Size (USF): 6,059 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/15/2020

Overview / Comments

Prime location in historic downtown Westerly. This property prominently sits on the corner of High St and Broad St and offers a high traffic count with travelers coming and going over the CT border. This iconic corner location overlooks the center of downtown Westerly and is easily walkable from all areas of this vibrant part of town. Currently the building hosts 2 retail spaces at the ground level and office space on the 2nd and 3rd floors. Downtown has undergone extensive revitalization and was recently outfitted with new sidewalks and crosswalks adding to its New England charm. Westerly is home to a thriving downtown scene that is full of shopping, delicious restaurants, trendy bars and more. Development opportunity with potential for 2nd and 3rd floor condos or apartments.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $5,525 (Annual)
Tax Value Land $128,900
Tax Value Improvements $331,500
Assessed Value - Total($) $460,400 (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Washington
Taxing Authority: Westerly
Tax ID/APN: WY 56-13
Zoning: DOWNTOWN COMMERCIAL
Retail Clientele: General, Business, Traveler, Tourist, Recreation, Other
Property Located Between: High St and Broad St.
Property Visibility: Excellent
Largest Nearby Street: Broad St
Feet of Frontage: 73
Site Description: Corner lot
Area Description: Downtown Westerly
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 2,164 SF
Property Condition: Excellent
Year Built: 1882
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick
Parking Type: Surface
Parking Description: Street parking
Sprinklers: Wet
Heat Type: Oil, Steam
Heat Source: Other
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Street level is retail. 2nd and 3rd floor currently being used as office space.
Zoning Description: Downtown Commercial
Lot Frontage: 73
Lot Depth: 55
Water Service: Municipal
Sewer Type: Municipal
Easements Description: None

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,996 28,030 42,564
Median Age: 40.45 43.13 44.43
Households: 4,251 11,943 17,952

Contact

Photograph of Listing Agent

Andy Schilke

Schilke Realty ECCPN Member
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