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    2200 Diamond Hill Rd Cumberland, RI 02864

    Sponsored
    For Sale
    $729,000

    COMMERCIAL - Cumberland, RI

    Type:Apartment
    Lot size:
    0.24 Acres
    Days on Market:
    45
    Last Refresh:
    Feb 13 at 7:06 pm

    Property Features for 2200 Diamond Hill Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Standard status
    Active
    Zoning
    C-1
    Parking
    8
    Interior features
    Ceiling Height (7 to 9 Ft)
    Lot size
    0.24 Acres

    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

    We can help!

    Listing Contact
    The Hometown Experts Team

    RE/MAX Town and Country (401) 333-0020

    Listing agent The Hometown Experts Team (401) 374-1211

    Listing date Dec 31, 2025

    MLS# 1397643

    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

    Mixed-Use 4-Unit Opportunity

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.403433
    Latitude
    41.948159

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    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 Rd 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.
    (401) 333-0020
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    2200 Diamond Hill Rd Cumberland, RI 02864
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    Cumberland, RI 02864
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    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
    2200 Diamond Hill Rd Cumberland, RI 02864
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    We can help!
    Listing Contact
    The Hometown Experts Team
    (401) 333-0020 (401) 374-1211
    Learn more
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