Established Auto Mechanic
For Sale
$699,900
1971 Victory Highway, Burrillville, RI 02826
Turn-key auto mechanic shop with excellent visibility and accessibility.
Property Size15 SF
Price / SF$208.30
Days on Market128
Property Features for 1971 Victory Highway
General Information
Standard status
Active
Size
15 SF
Property subtype
Commercial
Lease Term
Business Included YNN: Yes
Building Details
Building Size
15 SF
Year Built
1986
Listing Agency:
RE/MAX Bell Park Realty
(860) 207-1162
Listed By:
Deborah Burlingame · License #SL3599520
(860) 207-1162
Source:
Iverty
Added: Apr 6
Changed: Aug 8
Last Checked: Apr 20 at 2:47PM
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 RE/MAX Bell Park Realty
Investment Insights
Based on property information with market context.
This commercial property, currently operated as a fully operational auto mechanic shop, presents a prime opportunity in Glendale. Situated on a prominent corner lot just off Victory Highway, the location offers excellent visibility, accessibility, and steady traffic flow. The property features 3 bays, 3 lifts, 14x14 ft garage doors, and 15 1/2 ft ceilings. It also includes dedicated office space, heat detectors, central air, and forced air in the garage fueled by waste oil. Parking is available for 30-50 vehicles. The property is turn-key for an owner-operator. There is potential for a residential apartment above, offering added income or live/work flexibility. The property is zoned commercial and offers excellent exposure and accessibility.
Key Highlights
- Fully operational auto mechanic shop with 3 bays and 3 lifts, ready for immediate operation.
- Prominent corner lot location** off Victory Highway with excellent visibility and accessibility.
- Parking for 30‑50 vehicles.
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
$37,933
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
5.42%
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%
$758,660
$758.7K
Cap Rate 7%
$541,900
$541.9K
Cap Rate 9%
$421,478
$421.5K
Market Conditions
NOI Build-Up for 3,360 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
$60.5K $18.00/SF
− Vacancy
−$6.3K −$1.87/SF
EGI
$54.2K $16.13/SF
− OpEx
−$16.3K −$4.84/SF
NOI
$37.9K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
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%
$758,660
Cap Rate 7%
$541,900
Cap Rate 9%
$421,478
Alternative Uses
Best Use
Retail
$541.9K
$474.2K – $632.2K
NOI $37,933 @ 7.0% cap · market cap 5.42%
Second Best
Industrial
$250.5K
$219.2K – $292.2K
NOI $17,534 @ 7.0% cap · market cap 2.51%
Theoretical Best
Multifamily LT 5
$799.2K
$699.3K – $932.4K
NOI $55,946 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02826, RI
822
Population
420
Households
2
Avg Household Size
45
Median Age
8%
College-Educated
97%
High-School Grad
2.4 sq mi
ZIP Area
343
Density / Sq Mi
$75,347
Median Household Income
$42,215
Median Earnings
$266,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Joe's Auto Repair — Victory Hwy, Glendale, RI 02826
Frequently Asked Questions
What type of property is this?
Auto shop - Turn-key auto mechanic shop with excellent visibility and accessibility.
Where is this auto shop located?
The property is located at 1971 Victory Highway Burrillville, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Fully operational auto mechanic shop with **3 bays and 3 lifts, ready for immediate operation**.; Prominent corner lot location** off Victory Highway with excellent visibility and accessibility.; Parking for 30‑50 vehicles.
