Three-Unit Mixed-Use
For Sale
$1,395,000
Pending
382 Thames Street, Bristol, RI 02809
Restaurant tenants occupy two spaces, while a distinct warehouse-format unit adds a different commercial component.
Property Size8,514 SF
Days on Market964
Property Features for 382 Thames Street
General Information
Standard status
Pending
Size
8,514 SF
Property subtype
Commercial
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$16,197
Building Details
Building Size
8,514 SF
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Coastal
Listed By:
The Chris Woodard Team
(401) 640-3481
Source:
Cotepartnersrealty
Added: Mar 11, 2024
Changed: Oct 26
Last Checked: Oct 26 at 3:50PM
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 Keller Williams Coastal
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Investment Insights
Based on property information with market context.
This freestanding mixed-use building has three distinct spaces. Two are occupied by independent restaurants under long-term NNN leases; the third is warehouse-style space currently used by the owner. The units have separate utilities, and the property includes off-street parking. Building size is listed as 8,514, with no measurement unit specified in the property information.
The property fronts Thames Street opposite Bristol Harbor, with more than 115 feet of frontage. Nearby are 80 condominiums, the East Bay bike path and Independence Park. Bristol Harbor Inn Hotel and Event Center is within walking distance, in a downtown area described as having high traffic. Car, bicycle and pedestrian access are available.
The property fronts Thames Street opposite Bristol Harbor, with more than 115 feet of frontage. Nearby are 80 condominiums, the East Bay bike path and Independence Park. Bristol Harbor Inn Hotel and Event Center is within walking distance, in a downtown area described as having high traffic. Car, bicycle and pedestrian access are available.
Key Highlights
- Three distinct commercial spaces in a freestanding mixed‑use building
- Two restaurant spaces occupied under long‑term NNN leases
- Third unit is warehouse‑style space currently occupied by the owner
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,431
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,408,620
$2.4M
Cap Rate 7%
$1,720,443
$1.7M
Cap Rate 9%
$1,338,122
$1.3M
Market Conditions
NOI Build-Up for 8,514 SF
Gross rent
$209.4K $24.60/SF
− Vacancy
−$16.8K −$1.97/SF
EGI
$192.7K $22.63/SF
− OpEx
−$72.3K −$8.49/SF
NOI
$120.4K $14.15/SF
Area
Bristol County, RI
Vacancy
8.00%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,408,620
Cap Rate 7%
$1,720,443
Cap Rate 9%
$1,338,122
Alternative Uses
Best Use
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $151,114 @ 7.0% cap · market cap 10.83%
Second Best
Mixed Use
$1.72M
$1.51M – $2.01M
NOI $120,431 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,388 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
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Business Placement
Demographics for 02809, RI
22,493
Population
9,670
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,295
Density / Sq Mi
$96,005
Median Household Income
$41,266
Median Earnings
$1,352
Median Rent
$447,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant tenants occupy two spaces, while a distinct warehouse-format unit adds a different commercial component.
Where is this mixed-use property located?
The property is located at 382 Thames Street Bristol, RI.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Three distinct commercial spaces in a freestanding mixed‑use building; Two restaurant spaces occupied under long‑term NNN leases; Third unit is warehouse‑style space currently occupied by the owner
