Building Details

Year built 2009

Floors in Building 1

Building materials Brick, Frame

Listing Agency: Circle 100 Real Estate c***@circle100.com Show Phone

Listed By: Shuman Hsia Show Phone

Added: Jul 12 Changed: Aug 19 Last Checked: Aug 22 at 7:06PM

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MLS# 1417560

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 Chinese restaurant property includes a 5400 SF building constructed in 2009 on a 1.3-acre site. The interior provides seating for 154 guests, high ceilings ranging from 9 to 12 feet, and an open layout designed around service circulation and dining. A full liquor license is included. Brick and frame construction, central heating, central air conditioning, and a septic tank serve the property.

The site is located off Exit #7 on Rt. 95 and near Route 138 in Richmond, Rhode Island. GB zoning is identified for the property. The restaurant has served Rhode Island, Connecticut, and Massachusetts since 1987, providing an established operating history for the existing use.

Key Highlights

• 5400 SF restaurant building with seating for 154 guests
• 1.3‑acre site in Richmond, Rhode Island
• Constructed in 2009 with brick and frame materials

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

$69,838

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

5.17%

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%

$1,396,760 $1.4M

Cap Rate 7%

$997,686 $997.7K

Cap Rate 9%

$775,978 $776.0K

Market Conditions

NOI Build-Up for 5,400 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

$97.2K $18.00/SF

− Vacancy

−$4.1K −$0.76/SF

EGI

$93.1K $17.24/SF

− OpEx

−$23.3K −$4.31/SF

NOI

$69.8K $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%

$1,396,760

Cap Rate 7%

$997,686

Cap Rate 9%

$775,978

Alternative Uses

Best Use

Specialty Retail

$997.7K

$873.0K – $1.16M (±1% cap)

NOI $69,838 @ 7.0% cap · market cap 5.17%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$1.08M

$944.1K – $1.26M (±1% cap)

NOI $75,524 @ 7.0% cap · market cap 5.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Bali Village Restaurant Restaurant

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Butcher HVAC Service Computer & Electronic Repair

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

Turnkey business

Opportunity

Yes

Highway access

Yes

Liquor license

Location Intelligence

Trade Area within ½ mile

180

Businesses Nearby

49k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 89% Home Improvements & Furnishings 7% Dining 5%

Cumberland Farms Shops & Services

20,457 visits/mo 0.1 miles

Mobil Shops & Services

14,532 visits/mo 0.2 miles

Dollar General Shops & Services

6,927 visits/mo 0.2 miles

Wyoming Hardware Home Improvements & Furnishings

3,228 visits/mo 0.1 miles

SUBWAY Dining

2,269 visits/mo 0.1 miles

Demographics for 02898, RI

1,887

Population

768

Households

2.5

Avg Household Size

44

Median Age

56%

College-Educated

99%

High-School Grad

11.9 sq mi

ZIP Area

159

Density / Sq Mi

$124,083

Median Household Income

$53,396

Median Earnings

$399,400

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established food-service property with a full liquor license and an open, well-lit dining environment.

Where is this conventional restaurant located?

The property is located at 1172 Main Street Richmond, RI.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: 5400 SF restaurant building with seating for 154 guests; 1.3‑acre site in Richmond, Rhode Island; Constructed in 2009 with brick and frame materials