Two-Level Retail
New
For Sale
$3,200,000
120 Point Judith Road, Narragansett, RI 02882
B-B General Business zoning permits retail, service, and professional uses by right, with other uses requiring a special permit.
Property Size15,415 SF
Lot Size0.82 Acres
Price / SF$207.59
Days on Market6
Property Features for 120 Point Judith Road
General Information
Standard status
Active
Size
15,415 SF
Total Parking Spaces
32
Lot size
0.82 Acres
Property subtype
Commercial
Zoning
B-B General Business
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1972
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
The Agency Narragansett
(401) 308-4477
Listed By:
The Local Group
(401) 363-3710
Source:
Lockandkeyre
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 24 at 6:39PM
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 The Agency Narragansett
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Investment Insights
Based on property information with market context.
The two-level retail building at 120 Point Judith Road contains eight suites and approximately 15,600 SF on 0.82 acres. Built in 1972, it has about 198 feet of frontage and 32 on-site parking spaces. Three year-round tenants occupy space under NNN terms, while approximately 10,904 SF is vacant, including a 6,500 SF street-facing suite. Lower-level suites have separate rear entrances.
The property fronts Route 108 in Narragansett, on a corridor serving the Block Island Ferry, Galilee, and south coast beaches. B-B General Business zoning allows retail, service, and professional uses by right; other uses require a special permit.
The property fronts Route 108 in Narragansett, on a corridor serving the Block Island Ferry, Galilee, and south coast beaches. B-B General Business zoning allows retail, service, and professional uses by right; other uses require a special permit.
Key Highlights
- Eight suites across two levels; approximately 15,600 SF on 0.82 acres
- Approximately 198 feet of frontage on Route 108
- 32 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,300
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,126,000
$3.1M
Cap Rate 7%
$2,232,857
$2.2M
Cap Rate 9%
$1,736,667
$1.7M
Market Conditions
NOI Build-Up for 15,415 SF
Gross rent
$233.1K $15.12/SF
− Vacancy
−$9.8K −$0.64/SF
EGI
$223.3K $14.48/SF
− OpEx
−$67.0K −$4.35/SF
NOI
$156.3K $10.14/SF
Area
Washington County, RI
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,126,000
Cap Rate 7%
$2,232,857
Cap Rate 9%
$1,736,667
Alternative Uses
Best Use
Retail
$2.23M
$1.95M – $2.61M
NOI $156,300 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.08M
$2.69M – $3.59M
NOI $215,594 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
115k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Groceries 32%
Dining 13%
Beauty & Spa 3%
Stop & Shop
Groceries
36,801 visits/mo
0.1 miles
Dunkin' Donuts
Dining
14,931 visits/mo
0.1 miles
Dollar Tree
Shops & Services
13,083 visits/mo
0.3 miles
Stop & Shop Gas
Shops & Services
11,123 visits/mo
0.2 miles
Pet Supplies Plus
Shops & Services
8,634 visits/mo
0.2 miles
Demographics for 02882, RI
12,919
Population
8,870
Households
1.5
Avg Household Size
52
Median Age
64%
College-Educated
98%
High-School Grad
12.8 sq mi
ZIP Area
1,009
Density / Sq Mi
$95,794
Median Household Income
$44,042
Median Earnings
$1,661
Median Rent
$686,000
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - B-B General Business zoning permits retail, service, and professional uses by right, with other uses requiring a special permit.
Where is this retail space located?
The property is located at 120 Point Judith Road Narragansett, RI.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Eight suites across two levels; approximately 15,600 SF on 0.82 acres; Approximately 198 feet of frontage on Route 108; 32 on‑site parking spaces
