Restaurant Building with
14 Spring Street, Hopkinton, RI 02919
For Sale
$299,000
The vacant building has on-site parking, a patio, and Neighborhood Business zoning.
Property Size1,569 SF
Lot Size0.53 Acres
Price / SF$190.57
Days on Market33
Property Features for 14 Spring Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Property Condition
Severity
Evidence
Additional Details
Patio
Taxes and HOA fees
Annual Taxes
Amenities
outdoor patio area
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Smith and Oak Real Estate Co.
Listed By:
Ronald Papa · License #RES.0047243
(401) 281-8491
Source:
Pooleproperties
Added: Oct 8
Changed: Nov 8
Last Checked: Nov 8 at 2:42PM
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 Smith and Oak Real Estate Co.
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Investment Insights
Based on property information with market context.
Built in 1950, this 1,569-square-foot building occupies a 0.53-acre parcel and is currently vacant. It previously housed a restaurant and bar. A replacement roof and updated electrical service are in place, while the interior can be renovated for a new concept. An outdoor patio and on-site parking are also part of the property.
The site is in the downtown village of Hopkinton, within walking distance of local shops and services. Neighborhood Business zoning is identified, with restaurant, bar, retail, office, and other business uses noted as possibilities; permitted uses require confirmation with the Town of Hopkinton.
The site is in the downtown village of Hopkinton, within walking distance of local shops and services. Neighborhood Business zoning is identified, with restaurant, bar, retail, office, and other business uses noted as possibilities; permitted uses require confirmation with the Town of Hopkinton.
Key Highlights
- 1,569‑square‑foot building on a 0.53‑acre parcel
- Neighborhood Business (NB) zoning
- New roof and electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,004
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,080
$380.1K
Cap Rate 7%
$271,486
$271.5K
Cap Rate 9%
$211,156
$211.2K
Market Conditions
NOI Build-Up for 1,569 SF
Gross rent
$28.2K $18.00/SF
− Vacancy
−$2.9K −$1.85/SF
EGI
$25.3K $16.15/SF
− OpEx
−$6.3K −$4.04/SF
NOI
$19.0K $12.11/SF
Area
Providence County, RI
Vacancy
10.28%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,080
Cap Rate 7%
$271,486
Cap Rate 9%
$211,156
Alternative Uses
Best Use
Specialty Retail
$271.5K
$237.6K – $316.7K
NOI $19,004 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$373.2K
$326.6K – $435.4K
NOI $26,125 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02919, RI
29,473
Population
11,993
Households
2.5
Avg Household Size
45
Median Age
29%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,254
Density / Sq Mi
$87,811
Median Household Income
$56,068
Median Earnings
$1,259
Median Rent
$326,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Providence County, RI
Properties on Market for Conventional restaurants in Providence County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The vacant building has on-site parking, a patio, and Neighborhood Business zoning.
Where is this conventional restaurant located?
The property is located at 14 Spring Street Hopkinton, RI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,569‑square‑foot building on a 0.53‑acre parcel; Neighborhood Business (NB) zoning; New roof and electrical service
