Mixed-Use Property with Commercial
For Sale
Contact for pricing
1464 Kingstown Rd, South Kingstown, RI 02879
Kitchen renovation includes a new hood system and a dedicated stage area.
Property Size4,495 SF
Lot Size0.89 Acres
Price / SF$266.96
Days on Market138
Property Features for 1464 Kingstown Rd
General Information
Standard status
Active
Size
4,495 SF
Lot size
0.89 Acres
Property subtype
Mixed Use, Retail
Zoning
Commercial Neighborhood
Occupancy
100%
Restaurant
Commercial Hood
Yes
Patio
Yes
Amenities
outdoor seating/event area
one-bedroom apartment
stage/production area
commercial kitchen
Building Details
Buildings
1
Stories
2
Construction
fieldstone
Listing Agency:
Sweeney Real Estate
(401) 331-9300
Listed By:
Thomas Sweeney · License #RI
Source:
Crexi
Added: Apr 16
Changed: Aug 30
Last Checked: Aug 30 at 9:51PM
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 Sweeney Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property includes a 4,495 SF building on approximately 0.89± acres, with restaurant and retail areas, a commercial kitchen nearing completion, and a stage with production space. The kitchen renovation includes a brand-new hood system. A one-bedroom apartment adds an additional component to the building, which also features a fieldstone exterior.
The site provides on-site parking along with an outdoor seating and event area. It is zoned Commercial Neighborhood (CN) and is located next to the Peace Dale Mill Complex. The property has historically accommodated full-service restaurant operations and was more recently used as a nonprofit event venue without food service. Current improvements include capacity for 128 occupants, subject to applicable requirements, and the owner holds a Class T theater liquor license.
The site provides on-site parking along with an outdoor seating and event area. It is zoned Commercial Neighborhood (CN) and is located next to the Peace Dale Mill Complex. The property has historically accommodated full-service restaurant operations and was more recently used as a nonprofit event venue without food service. Current improvements include capacity for 128 occupants, subject to applicable requirements, and the owner holds a Class T theater liquor license.
Key Highlights
- 4,495± SF building situated on approximately 0.89± acres
- Commercial kitchen renovation nearing completion with a brand‑new hood system
- Stage and production area with outdoor seating and event 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
$58,134
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
4.84%
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%
$1,162,680
$1.2M
Cap Rate 7%
$830,486
$830.5K
Cap Rate 9%
$645,933
$645.9K
Market Conditions
NOI Build-Up for 4,495 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
$80.9K $18.00/SF
− Vacancy
−$3.4K −$0.76/SF
EGI
$77.5K $17.24/SF
− OpEx
−$19.4K −$4.31/SF
NOI
$58.1K $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%
$1,162,680
Cap Rate 7%
$830,486
Cap Rate 9%
$645,933
Alternative Uses
Best Use
Specialty Retail
$830.5K
$726.7K – $968.9K
NOI $58,134 @ 7.0% cap · market cap 4.84%
Second Best
Mixed Use
$650.2K
$568.9K – $758.5K
NOI $45,512 @ 7.0% cap · market cap 3.79%
Theoretical Best
Healthcare Medical
$898.1K
$785.8K – $1.05M
NOI $62,867 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
916
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Napa Auto Parts
Shops & Services
916 visits/mo
0.1 miles
Demographics for 02879, RI
20,982
Population
11,959
Households
1.8
Avg Household Size
51
Median Age
59%
College-Educated
95%
High-School Grad
39.5 sq mi
ZIP Area
531
Density / Sq Mi
$115,848
Median Household Income
$56,125
Median Earnings
$1,281
Median Rent
$515,800
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?
Mixed-use property - Kitchen renovation includes a new hood system and a dedicated stage area.
Where is this mixed-use property located?
The property is located at 1464 Kingstown Rd South Kingstown, RI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,495± SF building situated on approximately 0.89± acres; Commercial kitchen renovation nearing completion with a brand‑new hood system; Stage and production area with outdoor seating and event space
