Retail Space at Tri-Road
For Sale
Contact for pricing
170 Granite St, Westerly, RI 02891
Located in Westerly’s center at a well-traveled three-road intersection near Granite and Franklin Streets.
Property Size10,800 SF
Price / SF$277.78
Days on Market279
Property Features for 170 Granite St
General Information
Standard status
Active
Size
10,800 SF
Property subtype
RETAIL
Additional Details
Corner Location
Yes
Listing Agency:
Hayes & Sherry
(401) 273-7429
Listed By:
William F. Greene
Source:
Moodyscre
Added: Nov 26, 2025
Changed: Aug 31
Last Checked: Aug 31 at 6:11PM
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 Hayes & Sherry
Investment Insights
Based on property information with market context.
This retail space contains 10,800 square feet and is positioned at 170 Granite St in Westerly, Rhode Island. The property occupies the northeast corner of Granite and Franklin Streets, where three roads converge in the town center.
The surrounding intersection is described as well traveled, providing exposure to passing traffic. Household income within a 3-mile radius is also identified as a notable area characteristic. The combination of a central Westerly location, a multi-road intersection, and substantial retail area defines the property’s primary commercial profile.
The surrounding intersection is described as well traveled, providing exposure to passing traffic. Household income within a 3-mile radius is also identified as a notable area characteristic. The combination of a central Westerly location, a multi-road intersection, and substantial retail area defines the property’s primary commercial profile.
Key Highlights
- 10,800‑square‑foot retail space
- Northeast corner of Granite and Franklin Streets
- Three‑road intersection in Westerly’s center
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
$109,506
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
3.65%
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%
$2,190,120
$2.2M
Cap Rate 7%
$1,564,371
$1.6M
Cap Rate 9%
$1,216,733
$1.2M
Market Conditions
NOI Build-Up for 10,800 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
$163.3K $15.12/SF
− Vacancy
−$6.9K −$0.64/SF
EGI
$156.4K $14.48/SF
− OpEx
−$46.9K −$4.35/SF
NOI
$109.5K $10.14/SF
Area
Washington County, RI
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
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%
$2,190,120
Cap Rate 7%
$1,564,371
Cap Rate 9%
$1,216,733
Alternative Uses
Best Use
Retail
$1.56M
$1.37M – $1.83M
NOI $109,506 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.16M
$1.89M – $2.52M
NOI $151,049 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
99k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 46%
Home Improvements & Furnishings 1%
Electronics 1%
Cumberland Farms
Shops & Services
19,769 visits/mo
0.1 miles
McDonald's
Dining
16,670 visits/mo
0.2 miles
Dunkin' Donuts
Dining
13,213 visits/mo
0.0 miles
Starbucks
Dining
11,234 visits/mo
0.1 miles
Mobil
Shops & Services
8,424 visits/mo
0.1 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
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Frequently Asked Questions
What type of property is this?
Retail space - Located in Westerly’s center at a well-traveled three-road intersection near Granite and Franklin Streets.
Where is this retail space located?
The property is located at 170 Granite St Westerly, RI.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 10,800‑square‑foot retail space; Northeast corner of Granite and Franklin Streets; Three‑road intersection in Westerly’s center
