Two-Building Convenience Store
For Sale
$849,900
684 Boston Neck Road, North Kingstown, RI 02852
Commercial/Business,Commercial Sale, North Kingstown, RI
Property Size4,172 SF
Lot Size0.57 Acres
Price / SF$203.72
Days on Market12
Property Features for 684 Boston Neck Road
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
22
Interior features
Ceiling Height (7 to 9 Ft), Ceiling Height (9 to 12 Ft)
Basement
Full
Subdivision
Wickford / Annaquatucket
Lot features
Corner Lot, Fenced, Paved, Free Standing, Suburban
Standard status
Active
Size
4,172 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7305
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Ductless, Central Air
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Building materials
Brick, Masonry
Listing Agency:
Re/Max Real Estate Center · RE/MAX International
(401) 823-7600
Listed By:
Robert Crudale
(401) 580-4080
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 29 at 12:06PM
MLS# 1420859
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.
Investment Insights
Based on property information with market context.
This commercial property includes two brick and masonry buildings totaling 4,172 square feet on a 0.57-acre corner lot. The improvements are currently used as a convenience store and daycare. The convenience store has gas heat and air conditioning, while the daycare includes a roof installed approximately 2 years ago and heating and air conditioning updated within the last 2 years. Electrical service has also been updated.
The parking area was recently resurfaced, with parking and emergency markings refreshed. Located at 684 Boston Neck Road in North Kingstown, the property sits along a highly trafficked road. Additional square footage is positioned to the rear of the lot. The buildings date to 1930 and include basement space, forced-air heating, central air, ductless cooling, and septic service.
The parking area was recently resurfaced, with parking and emergency markings refreshed. Located at 684 Boston Neck Road in North Kingstown, the property sits along a highly trafficked road. Additional square footage is positioned to the rear of the lot. The buildings date to 1930 and include basement space, forced-air heating, central air, ductless cooling, and septic service.
Key Highlights
- Two brick and masonry buildings totaling 4,172 square feet
- 0.57‑acre corner lot at 684 Boston Neck Road, North Kingstown, RI 02852
- Current convenience store and daycare uses
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
$53,956
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
6.35%
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%
$1,079,120
$1.1M
Cap Rate 7%
$770,800
$770.8K
Cap Rate 9%
$599,511
$599.5K
Market Conditions
NOI Build-Up for 4,172 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
$75.1K $18.00/SF
− Vacancy
−$3.2K −$0.76/SF
EGI
$71.9K $17.24/SF
− OpEx
−$18.0K −$4.31/SF
NOI
$54.0K $12.93/SF
Area
Washington County, RI
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,079,120
Cap Rate 7%
$770,800
Cap Rate 9%
$599,511
Alternative Uses
Best Use
Specialty Retail
$770.8K
$674.5K – $899.3K
NOI $53,956 @ 7.0% cap · market cap 6.35%
Second Best
Retail
$604.3K
$528.8K – $705.0K
NOI $42,302 @ 7.0% cap · market cap 4.98%
Theoretical Best
Healthcare Medical
$833.6K
$729.4K – $972.5K
NOI $58,350 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02852, RI
23,579
Population
10,589
Households
2.2
Avg Household Size
47
Median Age
49%
College-Educated
96%
High-School Grad
30.8 sq mi
ZIP Area
766
Density / Sq Mi
$112,457
Median Household Income
$60,020
Median Earnings
$1,188
Median Rent
$461,700
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.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Brick and masonry improvements combine retail and daycare uses on a corner parcel.
Where is this grocery and convenience store located?
The property is located at 684 Boston Neck Road North Kingstown, RI.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two brick and masonry buildings totaling 4,172 square feet; 0.57‑acre corner lot at 684 Boston Neck Road, North Kingstown, RI 02852; Current convenience store and daycare uses
