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    Retail and Storage Buildings Opportunity Title is generated by Realmo AI

    1019 Main #2, Hopkinton, RI 02832

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    For Sale
    $529,900

    Two buildings for retail, storage, or conversion near I-95.

    Lot size:
    0.39 Acres
    Added:
    Jan 2, 2026
    Days on Market:
    131
    Last Refresh:
    Mar 16 at 11:03 am

    Property Features for 1019 Main #2

    General Information

    Standard status
    Active
    Lot size
    0.39 Acres

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    SANDY BLIVEN

    Listing agent SANDY BLIVEN

    Listing office RE/MAX SOUTH COUNTY

    Listing date Jan 2, 2026

    Source Corcoran

    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 RE/MAX SOUTH COUNTY

    HighLights

    • Turnkey investment opportunity: two buildings on separate lots, ideal for retail/storage or conversion to 6 rental units/condos.
    • High visibility location with easy access to I‑95, Rte 138, and Rte 3, centrally located between Boston and New York.
    • Established business location serving Southern Rhode Island and Eastern Connecticut since 2004.
    • Recent upgrades include a new roof, gutters, soffits, and electrical system.
    • Proximity to major employers like Pfizer and Electric Boat, and casinos (Foxwoods and Mohegan Sun).
    • Phase I study completed, indicating the land is clean.

    Overview

    This property presents a business opportunity with two buildings located at 1017 and 1019 Main St. The buildings are suitable for retail and/or storage purposes. The property has been a family-owned business since 2004, serving Southern Rhode Island and Eastern Connecticut. One building is used for retail sales and parts, while the other serves as a full-service center. The property features a new roof, gutters, soffits, oil heat, mini splits, and an upgraded electrical system. A Phase I study indicates the land is clean. The property is accessible from I-95, Rte 138, and Rte 3, offering high street visibility and traffic. The location is near I-95 and 10 minutes from Westerly, midway between Boston and New York. Pfizer and Electric Boat are located nearby, and Foxwoods and Mohegan Sun casinos are 15-20 minutes away. The NB zoning allows for various business opportunities. Both lots and buildings are being sold together. The second floor at 1017 Main offers potential rental space for residential or commercial use. Options exist for converting the two buildings into six rental units or condominiums.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hopkinton
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.7149174
    Latitude
    41.5087927

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    FAQs

    What type of property is this?
    Retail space - Two buildings for retail, storage, or conversion near I-95.
    Where is this retail space located?
    The property is located at 1019 Main #2 Hopkinton, RI.
    What is the asking price?
    The asking price for this property is $529,900.
    What are key features of this property?
    This property features: Turnkey investment opportunity: two buildings on separate lots, ideal for retail/storage or conversion to 6 rental units/condos.; High visibility location with easy access to I‑95, Rte 138, and Rte 3, centrally located between Boston and New York.; Established business location serving Southern Rhode Island and Eastern Connecticut since 2004.
    (401) 596-2067
    We can help!
    Listing Contact
    SANDY BLIVEN
    Learn More
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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
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