Brick Masonry Restaurant with
For Sale
$235,000
125 Main Street, Westerly, RI 02891
COMMERCIAL - Westerly, RI
Property Size1,500 SF
Lot Size2.26 Acres
Price / SF$156.67
Days on Market48
Property Features for 125 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DC2
Parking
40
Security features
Security
Interior features
Ceiling Height (9 to 12 Ft)
Lot features
Paved, Sidewalks, Downtown
Standard status
Active
Size
1,500 SF
Lot size
2.26 Acres
Taxes and HOA fees
Tax Year
2023
Utilities
Heating system
Zoned, Natural Gas
Cooling system
Ductless
Building Details
Year built
1975
Number of units
1
Building materials
Brick, Masonry
Listing Agency:
Coldwell Banker Coastal Homes · Coldwell Banker Real Estate
(401) 596-6333
Listed By:
Mark Wright
(401) 787-5203
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 11 at 6:06PM
MLS# 1416336
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.
Brick masonry pizza restaurant at 125 Main Street in Westerly, Rhode Island, built in 1975 and offered with existing restaurant equipment and inventory. The property sits on a 2.26-acre lot and includes approximately 1,500 square feet of space.
Interior features include ceiling height from 9 to 12 feet. The restaurant is served by zoned natural gas heating and ductless cooling. Construction materials are brick and masonry.
The offering also includes an outside patio for outdoor dining during spring, summer, and fall, supporting year-round customer experience at the location.
Zoned DC2, the site is positioned as an operating pizza establishment ready to continue serving customers under new ownership.
Interior features include ceiling height from 9 to 12 feet. The restaurant is served by zoned natural gas heating and ductless cooling. Construction materials are brick and masonry.
The offering also includes an outside patio for outdoor dining during spring, summer, and fall, supporting year-round customer experience at the location.
Zoned DC2, the site is positioned as an operating pizza establishment ready to continue serving customers under new ownership.
Key Highlights
- DC2 zoning
- 2.26‑acre lot
- 1,500 SF restaurant space
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
$19,400
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
8.26%
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%
$388,000
$388.0K
Cap Rate 7%
$277,143
$277.1K
Cap Rate 9%
$215,556
$215.6K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$1.1K −$0.76/SF
EGI
$25.9K $17.24/SF
− OpEx
−$6.5K −$4.31/SF
NOI
$19.4K $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%
$388,000
Cap Rate 7%
$277,143
Cap Rate 9%
$215,556
Alternative Uses
Best Use
Specialty Retail
$277.1K
$242.5K – $323.3K
NOI $19,400 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$299.7K
$262.2K – $349.7K
NOI $20,979 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
6,362 visits/mo
0.4 miles
Shell
Shops & Services
4,487 visits/mo
0.0 miles
Demographics for 02891, RI
21,803
Population
12,660
Households
1.7
Avg Household Size
50
Median Age
41%
College-Educated
94%
High-School Grad
26.3 sq mi
ZIP Area
829
Density / Sq Mi
$90,435
Median Household Income
$49,448
Median Earnings
$1,249
Median Rent
$422,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - DC2 zoned brick masonry pizza restaurant with an outdoor patio, natural gas heating, and ductless cooling.
Where is this conventional restaurant located?
The property is located at 125 Main Street Westerly, RI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: DC2 zoning; 2.26‑acre lot; 1,500 SF restaurant space
