Mixed Use Building

Office for Sale
Catylist Listing ID: 30447698
Property Subtypes: Mixed Use, Office Building
Building Size (RSF): 3,200 SF
Gross Building Area: 3,529 SF
Gross Land Area: 3,920 SF
Sale Price: See Agent
Property Use Type: Investment, Business
Usable Size (USF): 3,200 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 6/21/2019

Overview / Comments

Classic street side, downtown office building dating from the 1930's. It is concrete block and frame construction that has been well maintained and updated over the years (new roof in 2006, exterior painted in 2015). Present use is as a multi-office facility occupied by professionals. There are 4 units each with separate HVAC systems and electric meters. There is also a good size common conference room, 2 restrooms (one with a shower) and a kitchenette available for all tenants. This is a one of a kind property located in an area that is fast becoming one of South Kingstown's destinations for business.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $4,753 (Annual)
Tax Value Land $62,700
Tax Value Improvements $266,200
Tax Value Personal Property $0
Assessed Value - Total($) $328,900 (Annual)
Potential Rental Income $40,000 (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Washington
Taxing Authority: Town of South Kingstown
Tax ID/APN: SK 48-3:155
Zoning: CD - COMMERCIAL DOWNTOWN
Property Located Between: At Peacedale Rotary
Property Visibility: Good
Highway Access: All points are accessible from US Route 1 at Tower Hill Rd. Route 95 South is available at Route 138 in Hope Valley or from Route 78 Westerly. Route 95 North is available directly from Route 1, to Route 4 in East Greenwich.
Airports: TF Green Airport at Warwick for all commercial flights. Westerly airport for small commuter flights.
Site Description: The site contains 3,920 sqft. The lot is cleared and level
Area Description: With neighborhood revitalization activities in full force, the Village of Peacedale is looking better everyday and welcomes visitors and residents to share in the excitement that has overtaken this small mill village, located in South Kingstown, RI. The Town of South Kingstown continues to rank among Rhode Island's fastest growing towns and Peacedale Village, centrally located within it, is doing its share to facilitate this growth! Peacedale is coming alive with unique shops, cozy eateries, public art, and more. The conversion of the old Palisades Mill to a myriad of commercial and professional uses adds to this excitement. Peacedale is the place to be!
Typical SF / Floor: 1,600 SF
Year Built: 1930
Year Renovated: 1998
Roof Type: Flat
Construction/Siding: Block, Wood Frame, Wood Siding
Exterior Description: Two story fancy block and frame construction with clapboard siding on upper level. Main roof is flat with a new membrane in 2006. Lower roof is new asphalt shingles. Exterior painted in 2015. Windows are all newer insulated glass, with a storefront appearance street side.
Parking Description: On street parking or municipal parking lot across the street.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Wall Units
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Typical downtown office facility that is found anywhere in a small town. Space is divided in to a number of smaller suites that can be utilized as a single facility or as several units or as a shared facility. All finished surfaces are in good condition.
Zoning Description: CD- This is the central business district of the Town which developed along Wakefield's Main Street and adjacent side streets, from approximately Belmont Avenue to Holley Street and in the central portion of Peacedale. The CD district is characterized by buildings with little or no setback requirements or off street parking, a mix of land uses, and a pedestrian scale. Numerous historic structures exist as well as new buildings and reconstructed properties. It is important for this district to maintain its historic qualities and "Main Street" character. It includes small-scale retail centers designed to provide local business service to the Town. The primary users in this district are neighborhood retail, commercial offices, restaurant and entertainment, and may include residential uses. Excluded are commercial repairing, open lot sales, wholesale and storage uses, and uses primarily oriented toward the automobile.
Lot Frontage: 42.5
Lot Depth: 100
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: An easement has been granted to abutting parcel (Lot 154) for a portion of their pavement that extends onto the subject property (Lot 156).
Land Ownership: Fee Simple
Legal Description: A complete legal description for 1220 Kingstown Rd can be found at Book 1256, Page 749.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,614 29,161 48,383
Median Age: 41.45 38.03 39.64
Households: 3,157 9,938 17,441

Contact

Photograph of Listing Agent

George A Daglieri

RE/MAX FLAGSHIP, INC. ECCPN Member
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