Auto Mechanic Shop with 3
For Sale
$699,900
1971 Victory Highway, Burrillville, RI 02826
COMMERCIAL - Burrillville, RI
Property Size3,360 SF
Lot Size0.68 Acres
Price / SF$208.30
Days on Market128
Property Features for 1971 Victory Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2
Parking
50
Exterior features
Doors - 10-15 ft,Lighting
Lot features
Corner Lot, Dry, Level Lot, Cleared
Directions
Route 44 West, .01 miles to R.I 100/R.I 102 North, Bear right onto R.I 102 North, go 4.6 miles R.I. 102 N to Glendale Bypass on Right, travel 325 ft on Glendale Bypass to end. Turn Right onto Victory Hwy. 1971 Victory Hwy is 50 Ft on your left.
Subdivision
Glendale
Standard status
Active
Size
3,360 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2835
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Zoned
Cooling system
Central Air
Water source
Private
Amenities
3 lifts
14x14 ft garage doors
15 1/2 ft ceilings
dedicated office space
heat detectors
central air
forced air in garage fueled by waste oil
Building Details
Year built
1986
Floors in Building
2
Listing Agency:
RE/MAX Bell Park Realty · RE/MAX International
(860) 774-7600
Listed By:
Deborah Burlingame · License #SL3599520
(860) 207-1162
Added: Apr 7
Changed: Aug 4
Last Checked: Aug 12 at 10:06AM
MLS# 24165149
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Auto mechanic shop built in 1986 on a 0.68-acre corner lot and currently set up for shop operations. The property includes a dedicated office space, three bays, and three lifts, along with 14x14 ft garage doors and 15 1/2 ft ceilings. Shop systems include heat detectors, central air, and forced air in the garage fueled by waste oil. Bathrooms are on-site, and the property has cable available.
The site is positioned on Victory Highway with prominent visibility and strong accessibility. Parking is provided for 30 to 50 vehicles.
Zoned GC, the building is described as turn-key for an owner-operator. There is also potential for a residential apartment above, offering added flexibility for a live/work setup or additional income potential.
The site is positioned on Victory Highway with prominent visibility and strong accessibility. Parking is provided for 30 to 50 vehicles.
Zoned GC, the building is described as turn-key for an owner-operator. There is also potential for a residential apartment above, offering added flexibility for a live/work setup or additional income potential.
Key Highlights
- 0.68‑acre corner lot with auto mechanic shop built in 1986
- 3 bays with 3 lifts and 14x14 ft garage doors
- 15 1/2 ft ceilings, heat detectors, and central air
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,933
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$758,660
$758.7K
Cap Rate 7%
$541,900
$541.9K
Cap Rate 9%
$421,478
$421.5K
Market Conditions
NOI Build-Up for 3,360 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.5K $18.00/SF
− Vacancy
−$6.3K −$1.87/SF
EGI
$54.2K $16.13/SF
− OpEx
−$16.3K −$4.84/SF
NOI
$37.9K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$758,660
Cap Rate 7%
$541,900
Cap Rate 9%
$421,478
Alternative Uses
Best Use
Retail
$541.9K
$474.2K – $632.2K
NOI $37,933 @ 7.0% cap · market cap 5.42%
Second Best
Industrial
$250.5K
$219.2K – $292.2K
NOI $17,534 @ 7.0% cap · market cap 2.51%
Theoretical Best
Multifamily LT 5
$799.2K
$699.3K – $932.4K
NOI $55,946 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02826, RI
822
Population
420
Households
2
Avg Household Size
45
Median Age
8%
College-Educated
97%
High-School Grad
2.4 sq mi
ZIP Area
343
Density / Sq Mi
$75,347
Median Household Income
$42,215
Median Earnings
$266,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Joe's Auto Repair — Victory Hwy, Glendale, RI 02826
Frequently Asked Questions
What type of property is this?
Auto shop - Auto mechanic shop on a corner lot, zoned GC, with central air and parking for 30 to 50 vehicles.
Where is this auto shop located?
The property is located at 1971 Victory Highway Burrillville, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 0.68‑acre corner lot with auto mechanic shop built in 1986; 3 bays with 3 lifts and 14x14 ft garage doors; 15 1/2 ft ceilings, heat detectors, and central air
