Versatile Commercial Building on Main
For Sale
$1,850,000
Pending
1960 E Main Road, Portsmouth, RI 02871
7,584 SF commercial building on 1.55 acres.
Property Size7,584 SF
Lot Size1.55 Acres
Days on Market215
Property Features for 1960 E Main Road
General Information
Standard status
Pending
Size
7,584 SF
Lot size
1.55 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,411
Amenities
Forced Air Heating
Radiant Heating
Building Details
Year Built
2010
Listing Agency:
COMPASS
(401) 274-1644
Listed By:
THE MATHEW J. ARRUDA GROUP · License #BK3153120
Source:
Corcoran
Added: Jan 19
Changed: Aug 8
Last Checked: Jul 23 at 6:56AM
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 COMPASS
Investment Insights
Based on property information with market context.
Located at 1960 East Main Road in Portsmouth, this commercial property offers a blend of location and modern design. Constructed in 2010, the 7,584-square-foot steel building is situated on 1.55 acres of commercially zoned land along East Main Road. The property features an expansive warehouse space with large overhead doors and a retail spot. Positioned along a high-visibility, high-traffic corridor, the location benefits from exposure to potential customers.
Key Highlights
- Prime location on bustling East Main Road with high visibility and traffic.
- 7,584‑square‑foot steel building on 1.55 acres of commercially zoned land.
- Modern design built in 2010.
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
$85,573
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
4.63%
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%
$1,711,460
$1.7M
Cap Rate 7%
$1,222,471
$1.2M
Cap Rate 9%
$950,811
$950.8K
Market Conditions
NOI Build-Up for 7,584 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
$136.5K $18.00/SF
− Vacancy
−$14.3K −$1.88/SF
EGI
$122.2K $16.12/SF
− OpEx
−$36.7K −$4.84/SF
NOI
$85.6K $11.28/SF
Area
Newport County, RI
Vacancy
10.45%
Lease Rate
$18.00 /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%
$1,711,460
Cap Rate 7%
$1,222,471
Cap Rate 9%
$950,811
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.43M
NOI $85,573 @ 7.0% cap · market cap 4.63%
Second Best
Mixed Use
$1.10M
$959.9K – $1.28M
NOI $76,788 @ 7.0% cap · market cap 4.15%
Theoretical Best
Multifamily LT 5
$1.81M
$1.58M – $2.11M
NOI $126,669 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 02871, RI
17,640
Population
8,044
Households
2.2
Avg Household Size
47
Median Age
60%
College-Educated
96%
High-School Grad
17.1 sq mi
ZIP Area
1,032
Density / Sq Mi
$119,135
Median Household Income
$56,615
Median Earnings
$1,577
Median Rent
$539,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 7,584 SF commercial building on 1.55 acres.
Where is this mixed-use property located?
The property is located at 1960 E Main Road Portsmouth, RI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Prime location on bustling East Main Road with high visibility and traffic.; 7,584‑square‑foot steel building on 1.55 acres of commercially zoned land.; Modern design built in 2010.
