1-53 Village Plaza Way, Scituate, RI 02857

Building Details

Year Built 1975 More

Tenancy Multi More

Listing Agency: Coldwell Banker Realty - Franklin

Listed By: Anna Foncellino Show Phone

Source: Highlandre

Added: Nov 2 Changed: Nov 6 Last Checked: Nov 6 at 9:09AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Franklin

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 50,000-square-foot shopping center in Scituate, Rhode Island, was built in 1975. The property has a newer roof, paved parking, and a large pylon sign for tenant identification. Walgreens and Brigido Mkt. are among the named tenants.

Traffic lights serve both entrances to the center. The property is located at 1-53 Village Plaza Way.

Key Highlights

• 50,000‑square‑foot shopping center
• Walgreens and Brigido Mkt. are among the named tenants
• Traffic lights at both entrances

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$564,480

Cap Rate

7.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$11,289,600 $11.3M

Cap Rate 7%

$8,064,000 $8.1M

Cap Rate 9%

$6,272,000 $6.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 50,000 SF

Gross rent

$900.0K $18.00/SF

− Vacancy

−$93.6K −$1.87/SF

EGI

$806.4K $16.13/SF

− OpEx

−$241.9K −$4.84/SF

NOI

$564.5K $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 Rate 5%

$11,289,600

Cap Rate 7%

$8,064,000

Cap Rate 9%

$6,272,000

Alternative Uses

Best Use

Retail

$8.06M

$7.06M – $9.41M (±1% cap)

NOI $564,480 @ 7.0% cap · market cap 7.53%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$11.89M

$10.41M – $13.88M (±1% cap)

NOI $832,524 @ 7.0% cap · market cap 11.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Real Estate Agency Auto Parts Store Building Supply Garden Center (Bike/Boat/Book/etc) Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

196

Businesses Nearby

30k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 69% Groceries 31% Hotels & Casinos 1%

Shell Shops & Services

13,095 visits/mo 0.2 miles

Brigido's Fresh Market Groceries

9,295 visits/mo 0.1 miles

Seasons Corner Market Shops & Services

5,839 visits/mo 0.2 miles

U-Haul Shops & Services

1,926 visits/mo 0.3 miles

Americas Best Value Inn Providence North Scituate Hotels & Casinos

268 visits/mo 0.1 miles

Demographics for 02857, RI

8,339

Population

3,549

Households

2.3

Avg Household Size

48

Median Age

38%

College-Educated

98%

High-School Grad

43.2 sq mi

ZIP Area

193

Density / Sq Mi

$108,813

Median Household Income

$60,958

Median Earnings

$1,463

Median Rent

$387,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Shopping center - Two entrances have traffic lights, with a paved parking lot serving the center.

Where is this shopping center located?

The property is located at 1-53 Village Plaza Way Scituate, RI.

What is the asking price?

The asking price for this property is $7,500,000.

What are key features of this property?

This property features: 50,000‑square‑foot shopping center; Walgreens and Brigido Mkt. are among the named tenants; Traffic lights at both entrances