Mixed-Use Property with
For Sale
$2,900,000
100 Fortin Street, South Kingstown, RI 02881
Commercial/Business,Commercial Sale, South Kingstown, RI
Property Size8,590 SF
Price / SF$337.60
Days on Market283
Property Features for 100 Fortin Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Uri/Emporium - Kingston
Lot features
Assoc. Fee, Paved, Free Standing, Strip Store, Suburban
Standard status
Active
Size
8,590 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11092
HOA Fee
$1,500 Quarterly
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Building materials
Frame
Listing Agency:
Lila Delman Compass
(401) 789-6666
Listed By:
Patricia Berg
(401) 265-6835
Added: Nov 19, 2025
Changed: Aug 28
Last Checked: Aug 29 at 6:06PM
MLS# 1400309
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 mixed-use property contains 8,590 square feet with four storefront units and two studio apartments. The building was constructed in 1982 with frame construction, forced-air and natural-gas heating, and a combination of central air and window-unit cooling. Public water serves the property, and long-term leases are in place across the commercial and residential components.
The property is located at 100 Fortin Street in South Kingstown, directly across from the URI Emporium. Its setting places the building near the University of Rhode Island and provides an established context for both storefront and apartment occupancy.
The property is located at 100 Fortin Street in South Kingstown, directly across from the URI Emporium. Its setting places the building near the University of Rhode Island and provides an established context for both storefront and apartment occupancy.
Key Highlights
- 8,590‑square‑foot mixed‑use property
- Four storefront units and two studio apartments
- Long‑term leases in place
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
$90,418
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
3.12%
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%
$1,808,360
$1.8M
Cap Rate 7%
$1,291,686
$1.3M
Cap Rate 9%
$1,004,644
$1.0M
Market Conditions
NOI Build-Up for 8,590 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
$172.1K $20.04/SF
− Vacancy
−$7.7K −$0.90/SF
EGI
$164.4K $19.14/SF
− OpEx
−$74.0K −$8.61/SF
NOI
$90.4K $10.53/SF
Area
Washington County, RI
Vacancy
4.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,808,360
Cap Rate 7%
$1,291,686
Cap Rate 9%
$1,004,644
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,418 @ 7.0% cap · market cap 3.12%
Second Best
Retail
$1.24M
$1.09M – $1.45M
NOI $87,098 @ 7.0% cap · market cap 3.00%
Theoretical Best
Healthcare Medical
$1.72M
$1.50M – $2.00M
NOI $120,140 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Leisure 39%
Edwards Auditorium
Leisure
8,849 visits/mo
0.2 miles
Dunkin' Donuts
Dining
8,065 visits/mo
0.1 miles
SUBWAY
Dining
3,163 visits/mo
0.1 miles
Insomnia Cookies
Dining
2,673 visits/mo
0.1 miles
Demographics for 02881, RI
8,443
Population
1,247
Households
6.8
Avg Household Size
20
Median Age
83%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
2,483
Density / Sq Mi
$5,951
Median Earnings
$1,368
Median Rent
$481,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four storefronts and two studio apartments provide a combined commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 100 Fortin Street South Kingstown, RI.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 8,590‑square‑foot mixed‑use property; Four storefront units and two studio apartments; Long‑term leases in place
