Building Details

Buildings 1

Tenancy Single

Listing Agency: Smith and Oak Real Estate Co. Show Phone

Listed By: Ronald Papa · License #RES.0047243 Show Phone

Source: Exprealty

Added: Oct 8 Changed: Oct 10 Last Checked: Oct 10 at 2:15AM

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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.

Investment Insights

Based on property information with market context.

This 1,569-square-foot restaurant building is vacant and sits on a 0.53-acre lot. The property includes an outdoor patio, on-site parking, a new roof, and new electrical service. Its previous restaurant and bar use provides context for the existing commercial space, which may be renovated to suit a future concept.

Zoned Neighborhood Business (NB), the property is identified for a range of possible business uses, including restaurant, bar, retail, and office. Permitted uses should be verified with the Town of Hopkinton.

Key Highlights

• 1,569‑square‑foot building on a 0.53‑acre lot
• On‑site parking and an outdoor patio
• New roof and new electrical service

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,004

Cap Rate

5.76%

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 (±1% cap)

NOI $19,004 @ 7.0% cap · market cap 5.76%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$373.2K

$326.6K – $435.4K (±1% cap)

NOI $26,125 @ 7.0% cap · market cap 7.92%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Dental Office Real Estate Agency Parking Lot & Garage HVAC Service Cafe & Coffee Shop Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

687

Businesses Nearby

33k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 93% Dining 7%

Cumberland Farms Shops & Services

18,873 visits/mo 0.5 miles

Shell Shops & Services

12,105 visits/mo 0.5 miles

Honey Dew Donuts Dining

2,199 visits/mo 0.5 miles

Demographics for 02904, RI

31,542

Population

14,483

Households

2.2

Avg Household Size

41

Median Age

32%

College-Educated

88%

High-School Grad

5.2 sq mi

ZIP Area

6,066

Density / Sq Mi

$64,637

Median Household Income

$47,040

Median Earnings

$1,217

Median Rent

$302,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - The vacant property includes on-site parking, a new roof, and new electrical service.

Where is this conventional restaurant located?

The property is located at 14 Spring St Johnston, RI.

What is the asking price?

The asking price for this property is $329,900.

What are key features of this property?

This property features: 1,569‑square‑foot building on a 0.53‑acre lot; On‑site parking and an outdoor patio; New roof and new electrical service