Mixed-Use 4-Unit
2200 Diamond Hill Road, Cumberland, RI 02864
COMMERCIAL - Cumberland, RI
Type:Apartment
Property size:
2,914 SFLot size:
0.24 AcresPrice / SF:
$250/SF- Added:
- Oct 15, 2025
- Days on Market:
- 219
- Last Refresh:
- May 21 at 9:06 pm
Property Features for 2200 Diamond Hill Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Apartment
- Zoning
- C-1
- Parking
- 8
- Interior features
- Ceiling Height (7 to 9 Ft)
- Standard status
- Active
- Size
- 2,914 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5205
Utilities
- Heating system
- Baseboard, Heat Pump (Heating)
- Cooling system
- Ductless, Window Unit(s)
Building Details
- Year built
- 1960
- Floors in Building
- 2
- Number of units
- 4
- Building materials
- Brick, Frame
Listing agent The Hometown Experts Team (401) 333-0020
Listing office Re/Max Town & Country 2081 Diamond Hill Rd, RI (401) 333-0020
Listing date Oct 15, 2025
MLS# 1397643
Copyright © 2026 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.
HighLights
- Mixed‑use property with 2 commercial and 2 residential units offers diverse income streams.
- Separate electrical meters for each unit plus a house meter simplifies utility management.
- Parking for 8‑10 vehicles provides ample space for tenants and customers.
- Additional income from sign lease for neighboring business.
- Fire alarm system installed for enhanced safety.
- Opportunity to purchase adjacent 6‑unit property and 17,000 sq ft vacant lot.
Overview
This mixed-use property features four units, situated between Chapel Four Corners and I-295 on Diamond Hill Road in Cumberland, Rhode Island. The building includes two commercial units on the first level and two residential apartments on the second level. Each unit has a separate electrical meter, with an additional house meter. Three units are heated and cooled with ductless units, while one unit is heated with electric baseboard and cooled with a window unit. The owner covers the cost of hot water, water, and sewer. The building is equipped with a fire alarm system. Parking is available for 8 to 10 vehicles. Additional income is generated from a sign on the property for a neighboring assisted living facility. The property, zoned C-1, occupies a 0.24-acre lot. One commercial unit is currently vacant, previously occupied by the owner. This property can be purchased independently or together with an adjacent 6-unit property and a 17,000 sq ft vacant lot.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$539.1K
NOI $48,519 @ 9.00% cap · cautious / downside scenario
Moderate
$693.1K
NOI $48,519 @ 7.00% cap · market / base-case scenario
Aggressive
$970.4K
NOI $48,519 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.1k | $25.44 |
| − Vacancy | −$4.8k | −$1.65 |
| EGI | $69.3k | $23.79 |
| − OpEx | −$20.8k | −$7.14 |
| NOI | $48.5k | $16.65 |
2,914 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$693.1K
$606.5K – $808.7K
NOI $48,519 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$550.1K
$481.3K – $641.8K
NOI $38,507 @ 7.0% cap · market cap 5.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Cumberland
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.4034242
- Latitude
- 41.9482331
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with commercial and residential units in Cumberland, RI.
Where is this mixed-use property located?
The property is located at 2200 Diamond Hill Road Cumberland, RI.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Mixed‑use property with 2 commercial and 2 residential units offers diverse income streams.; Separate electrical meters for each unit plus a house meter simplifies utility management.; Parking for 8‑10 vehicles provides ample space for tenants and customers.
