Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    129 Oak St Westerly, RI 02891

    Sponsored
    For Sale
    $545,000

    COMMERCIAL - Westerly, RI

    Lot size:
    0.29 Acres
    Days on Market:
    46
    Last Refresh:
    Jan 19 at 9:06 am

    Property Features for 129 Oak St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Zoning
    GI
    Parking
    20
    Interior features
    Ceiling Height (7 to 9 Ft), Ceiling Height (9 to 12 Ft)
    Lot size
    0.29 Acres

    Utilities

    Heating system
    Zoned, Forced Air

    Building Details

    Year built
    1952
    Number of units
    1
    Building materials
    Brick, Frame

    We can help!

    Listing Contact
    Mark Wright

    Coldwell Banker Cahoone Realtors (401) 596-6333 [email protected]

    Listing agent Mark Wright (401) 787-5203

    Listing date Dec 5, 2025

    Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Industrial Building with Rental Potential

    This is a 3700 sqft building located in a zoned industrial section of Westerly, RI. The property features storage space, garage doors, an office area, and a retail area. It has the potential to be separated into 3 rental units, as it already has 3 separate utility hookups in place. Currently used as a salvage yard office, the industrial zoning allows for extensive use. The property is situated on a 0.29-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Martin & Son Auto ... Used Auto Parts Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westerly
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.808885
    Latitude
    41.383541

    Nearby Similar for Sale

    • $599,300
      0.36 Acres

      Updated Two-Family in Revived Downtown

      Updated two-family near downtown Westerly with many amenities.
      19 Pleasant St, Westerly, RI 02891
      View Details
    • New
      $569,300
      0.11 Acres

      Westerly Three-Unit Family Residence

      Charming three-unit residence in Westerly's North End.
      55 Pleasant St, Westerly, RI 02891
      View Details
    • Contact for pricing
      3.64 Acres

      Renovated Commercial Property For Sale

      3,264 SF renovated commercial property in high-traffic area.
      82 Airport Rd, Westerly, RI 02891
      View Details
    • New
      $649,900
      0.75 Acres

      Westerly Multi-Family Development Opportunity

      Two-family home on large lot with development potential in Westerly.
      40 Pleasant St, Westerly, RI 02891
      View Details
    • $589,900
      0.41 Acres

      Westerly Commercial Building with Bays

      Well-maintained 3,600 SF commercial building on 0.41 acres.
      442 Bradford Rd, Westerly, RI 02808
      View Details
    • Contact for pricing
      0.92 Acres

      Westerly Office Suite For Sale

      Turn-key office suite near RI/CT state line.
      101 Airport Rd, Westerly, RI 02891
      View Details
    • New
      Contact for pricing

      Westerly Office Space Available

      Private office space with utilities included.
      6 Franklin St, Westerly, RI 02891
      View Details
    • Contact for pricing
      0.92 Acres

      Westerly Office Suite For Sale

      Turn-key office suite near RI/CT state line.
      101 Airport Rd, Westerly, RI 02891
      View Details
    • New
      Contact for pricing
      200 SF

      Downtown Westerly Office/Retail Space

      Office, retail, or storage space in downtown Westerly.
      53 High St, Westerly, RI 02891
      View Details
    • Contact for pricing
      0.24 Acres

      Downtown Westerly Commercial Rental Spaces

      Commercial rental spaces available in downtown Westerly, Rhode Island.
      53 High St, Westerly, RI 02891
      View Details
    • $480,000
      1,022 SF

      Turnkey Restaurant Near Downtown Westerly

      Turnkey restaurant with seating for 49 near downtown Westerly.
      8 Industrial Dr, Westerly, RI 02891
      View Details
    • $899,000

      Westerly Commercial Building with Apartments

      Downtown commercial building with retail space and residential apartments.
      33 Railroad Ave, Westerly, RI 02891
      View Details

    FAQs

    What type of property is this?
    Industrial property - 3700 sqft industrial building in Westerly, RI with rental potential.
    Where is this industrial property located?
    The property is located at 129 Oak St Westerly, RI.
    What is the asking price?
    The asking price for this property is $545,000.
    What are key features of this property?
    This property features: - 3700 sqft building in a zoned industrial area.; - Potential for 3 separate rentals with existing utility hookups.; - Includes office and retail area.
    (401) 596-6333
    Request Owner's contact information
    129 Oak St Westerly, RI 02891
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    129 Oak St
    Westerly, RI 02891
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    129 Oak St Westerly, RI 02891
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mark Wright
    (401) 596-6333
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.