Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    171 Chase Ave, Unit 2 Portsmouth, RI 02871

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $395,000

    Commercial condominium in Portsmouth, RI, ideal for retail or offices.

    Property size:
    1,104 SF

    Property Features for 171 Chase Ave

    General Information

    Standard status
    Active
    Size
    1,104 SF

    Building Details

    Year built
    1988

    We can help!

    Listing Contact
    The Chris Woodard Team
    Source: Corcoran

    Listing Agency: KELLER WILLIAMS COASTAL Listing Agent: The Chris Woodard Team

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Portsmouth Commercial Condo For Sale

    This commercial condominium is located in Portsmouth, RI, offering high visibility on a main thoroughfare. The property is suitable for retail, professional offices, or specialty services. The main level features an open layout with oversized windows. An abundant, well-lit parking lot provides access for staff and visitors. The 1,104 sq. ft. walkout lower level offers additional flexibility for storage, utility needs, or future expansion. The property is located near major highways, shopping centers, and local businesses in the Portsmouth community.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Portsmouth
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.30759
    Latitude
    41.621655

    Nearby Similar for Sale

    • $849,900
      0.34 Acres

      Restaurant Near Portsmouth Beaches

      Thriving restaurant with loyal customer base near Portsmouth beaches.
      501 Park Ave, Portsmouth, RI 02871
      View Details
    • New
      $730,000
      1,650 SF

      Portsmouth Multi-Family Investment Opportunity

      Turnkey two-unit property with development potential in Portsmouth, Rhode Island.
      19 Brown Ter, Portsmouth, RI 02871
      View Details
    • $650,000
      1,619 SF

      Victorian Property on East Main

      Charming Victorian property with versatile commercial and residential potential.
      2952 E Main Rd, Portsmouth, RI 02871
      View Details
    • $2,400,000
      2,500 SF

      Waterfront Restaurant Opportunity in Portsmouth

      Turnkey waterfront restaurant with indoor and outdoor dining.
      15 Point St, Portsmouth, RI 02871
      View Details
    • $849,900
      1,449 SF

      Thriving Restaurant Near Portsmouth Beaches

      Well-established restaurant with loyal customer base and growth potential.
      501 Park Ave, Portsmouth, RI 02871
      View Details
    • $1,850,000
      7,584 SF

      Versatile Commercial Building on Main Road

      7,584 SF commercial building on 1.55 acres.
      1960 E Main Rd, Portsmouth, RI 02871
      View Details
    • $1,200,000
      1,449 SF

      Prime Portsmouth Restaurant - $1.2M

      Established eatery, high-traffic location, ample parking.
      501 Park Ave, Portsmouth, RI 02871
      View Details
    • $1,200,000
      1,449 SF

      Prime Portsmouth Restaurant Opportunity

      Thriving eatery, high-traffic location, strong financials.
      501 Park Ave, Portsmouth, RI 02871
      View Details
    • $999,923
      0.23 Acres

      Prime Portsmouth Commercial Land

      High-visibility .23-acre lot, ideal for various commercial uses.
      1074 Main Rd, Portsmouth, RI 02871
      View Details
    • $260,000
      909 SF

      Portsmouth Commercial Unit - For Sale

      909 sq ft commercial space, prime location.
      1678 Main Rd, Portsmouth, RI 02871
      View Details
    • $1,950,000
      1.55 Acres

      Prime Portsmouth Commercial Property

      Versatile 7,584 SF building on 1.55 acres
      1960 Main Rd, Portsmouth, RI 02871
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial condominium in Portsmouth, RI, ideal for retail or offices.
    Where is this retail space located?
    The property is located at 171 Chase Ave, Unit 2 Portsmouth, RI.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - Prime location on a busy main road in Portsmouth, RI, offering maximum exposure and high traffic.; - Versatile 1,104 sq. ft. walkout lower level for storage, utilities, or future expansion.; - Bright, open main level layout easily adaptable for various business types.
    (401) 845-9200
    Request Owner's contact information
    171 Chase Ave, Unit 2 Portsmouth, RI 02871
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    171 Chase Ave, Unit 2
    Portsmouth, RI 02871
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    171 Chase Ave, Unit 2 Portsmouth, RI 02871
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    The Chris Woodard Team
    (401) 845-9200 (401) 921-5011 (401) 640-3481
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!