Multi-Building Strip
120 Knowlesway Ext Narragansett, RI 02882
120 Knowlesway Ext, Narragansett, RI, 02882
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For Sale
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Multi-unit strip plaza with two buildings, ample onsite parking, and municipal water and sewer service.
Property Size9,840 SF
Lot Size1.34 Acres
Price / SF$223.58
Days on Market283
Property Features for 120 Knowlesway Ext
General Information
- Standard status
- Active
- Size
- 9,840 SF
- Lot size
- 1.34 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1976
Listing agency
eXp Commercial, LLC
(502) 817-6484
Listed by
Ron Freeman · License #RI RES.0047468
Source
Crexi
Added: Oct 13, 2025 Updated: Jul 22 at 4:08AM Checked: Jul 22 at 4:08AM
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 eXp Commercial, LLC
Investment Insights
Based on property information with market context.
This multi-unit strip plaza comprises two separate buildings. Building 1 totals 3,600 SF plus an additional 1,800 SF unfinished basement, and Building 2 totals 6,240 SF. The property was built in 1976 and is supported by municipal water and sewer, along with electric and gas utilities.
Located in Narragansett, the plaza is described as minutes from Narragansett Beach, Scarborough Beach, Galilee, and Point Judith, with access to the Block Island Ferry area. The offering also notes established visibility and an active high-traffic corridor with signage visibility.
The site includes ample onsite parking for customers and tenants and is positioned for continued income use or potential redevelopment and expansion, depending on an owner’s plans.
Located in Narragansett, the plaza is described as minutes from Narragansett Beach, Scarborough Beach, Galilee, and Point Judith, with access to the Block Island Ferry area. The offering also notes established visibility and an active high-traffic corridor with signage visibility.
The site includes ample onsite parking for customers and tenants and is positioned for continued income use or potential redevelopment and expansion, depending on an owner’s plans.
Key Highlights
- Two‑building strip plaza on 1.34‑acre lot, built in 1976
- Building 1 offers 3,600 SF plus 1,800 SF unfinished basement
- Building 2 includes 6,240 SF of commercial space
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $148.8k | $15.12 |
| − Vacancy | −$6.2k | −$0.64 |
| EGI | $142.5k | $14.48 |
| − OpEx | −$42.8k | −$4.35 |
| NOI | $99.8k | $10.14 |
9,840 SF · lease $15.12/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.66M
NOI $99,772 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.97M
$1.72M – $2.29M
NOI $137,622 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Multi-unit strip plaza with two buildings, ample onsite parking, and municipal water and sewer service.
Where is this strip mall located?
The property is located at 120 Knowlesway Ext Narragansett, RI.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two‑building strip plaza on 1.34‑acre lot, built in 1976; Building 1 offers 3,600 SF plus 1,800 SF unfinished basement; Building 2 includes 6,240 SF of commercial space
