Automotive Property with Sales
For Sale
$1,300,000
1220 Broad Street, Central Falls, RI 02863
Commercial/Business,Commercial Sale, Central Falls, RI
Property Size5,740 SF
Lot Size0.29 Acres
Price / SF$226.48
Days on Market230
Property Features for 1220 Broad Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
2
Security features
Security System
Interior features
Ceiling Height (9 to 12 Ft)
Lot features
Downtown, Free Standing
Standard status
Active
Size
5,740 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10368
Utilities
Heating system
Central, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
1
Building materials
Brick, Masonry, Steel
Listing Agency:
Bhhs Commonwealth Real Estate · Berkshire Hathaway HomeServices
(401) 886-6100
Listed By:
Barry Alofsin · License #0041106
(401) 345-3100
Added: Jan 6
Changed: Aug 19
Last Checked: Aug 24 at 9:06PM
MLS# 1402581
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.
Located at 1220 Broad Street in Central Falls, this automotive property combines an established dealership, auto body shop, repair facility, and office space. The 0.29-acre site includes a vehicle sales area accommodating up to 25 vehicles. Building materials include brick, masonry, and steel, with ceiling heights from 9 to 12 feet. Central heating, forced air, central air conditioning, and public water are provided, and the building dates to 1960.
The upper level is unfinished and has a separate entrance and dedicated parking. The space is identified for storage or possible residential use, subject to approvals. The property fronts Broad Street and is positioned across from a major residential development project. Road, sidewalk, and municipal lighting improvements are present in the surrounding area. The automotive business and real estate are offered together, with transition assistance and license transfer support available from the owner.
The upper level is unfinished and has a separate entrance and dedicated parking. The space is identified for storage or possible residential use, subject to approvals. The property fronts Broad Street and is positioned across from a major residential development project. Road, sidewalk, and municipal lighting improvements are present in the surrounding area. The automotive business and real estate are offered together, with transition assistance and license transfer support available from the owner.
Key Highlights
- Automotive dealership, auto body shop, repair facility, and office space at 1220 Broad Street
- 0.29‑acre site with a sales lot accommodating up to 25 vehicles
- Unfinished upper level with separate entrance and dedicated parking
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
$64,802
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
4.98%
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%
$1,296,040
$1.3M
Cap Rate 7%
$925,743
$925.7K
Cap Rate 9%
$720,022
$720.0K
Market Conditions
NOI Build-Up for 5,740 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
$103.3K $18.00/SF
− Vacancy
−$10.7K −$1.87/SF
EGI
$92.6K $16.13/SF
− OpEx
−$27.8K −$4.84/SF
NOI
$64.8K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,296,040
Cap Rate 7%
$925,743
Cap Rate 9%
$720,022
Alternative Uses
Best Use
Retail
$925.7K
$810.0K – $1.08M
NOI $64,802 @ 7.0% cap · market cap 4.98%
Second Best
Industrial
$427.9K
$374.4K – $499.2K
NOI $29,954 @ 7.0% cap · market cap 2.30%
Theoretical Best
Multifamily LT 5
$1.37M
$1.19M – $1.59M
NOI $95,574 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
8k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
6,135 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
2,177 visits/mo
0.3 miles
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
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?
Automotive property - Automotive facility combining dealership, body shop, repair operations, and office space with separate upper-level access.
Where is this automotive property located?
The property is located at 1220 Broad Street Central Falls, RI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Automotive dealership, auto body shop, repair facility, and office space at 1220 Broad Street; 0.29‑acre site with a sales lot accommodating up to 25 vehicles; Unfinished upper level with separate entrance and dedicated parking
