Mixed-Use 4-Unit
For Sale
$729,000
2200 Diamond Hill Road, Cumberland, RI 02864
Mixed-use 4-unit property with commercial and residential spaces.
Property Size2,914 SF
Days on Market311
Property Features for 2200 Diamond Hill Road
General Information
Standard status
Active
Size
2,914 SF
Total Parking Spaces
8
Property subtype
Commercial
Zoning
C-1
Taxes and HOA fees
Annual Taxes
$5,205
Building Details
Building Size
2,914 SF
Year Built
1960
Buildings
1
Stories
2
Units
4
Listing Agency:
RE/MAX Town & Country
(401) 374-1211
Listed By:
The Hometown Experts Team
(401) 374-1211
Source:
Liongatere
Added: Oct 15, 2025
Changed: Aug 20
Last Checked: Aug 20 at 1:45PM
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 Town & Country
Investment Insights
Based on property information with market context.
This mixed-use property features four units, with two commercial units on the first level and two residential apartments on the second level. The building is located on Diamond Hill Road, between Chapel Four Corners and I-295. Each unit has a separate electrical meter, in addition to a house meter. Three units are heated and cooled with ductless units, while one unit is heated with electric baseboard and cooled with a window unit. The owner pays for hot water, water, and sewer. The building is fire alarmed. Parking is available for 8 to 10 vehicles. Additional income is generated from a sign on the property for a neighboring assisted living facility. One commercial unit is currently vacant, previously occupied by the owner. The property can be purchased alone or with an adjacent 6-unit property and a 17,000 square foot vacant lot.
Key Highlights
- Mixed‑use property with 2 commercial and 2 residential units offers diverse income streams.
- Excellent location between Chapel Four Corners and I‑295 on Diamond Hill Road.
- Separate electrical meters for each unit plus a house meter.
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
$34,422
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
4.72%
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%
$688,440
$688.4K
Cap Rate 7%
$491,743
$491.7K
Cap Rate 9%
$382,467
$382.5K
Market Conditions
NOI Build-Up for 2,914 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
$61.2K $21.00/SF
− Vacancy
−$6.1K −$2.10/SF
EGI
$55.1K $18.90/SF
− OpEx
−$20.7K −$7.09/SF
NOI
$34.4K $11.81/SF
Area
Providence County, RI
Vacancy
10.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$688,440
Cap Rate 7%
$491,743
Cap Rate 9%
$382,467
Alternative Uses
Best Use
Mixed Use
$491.7K
$430.3K – $573.7K
NOI $34,422 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$693.1K
$606.5K – $808.7K
NOI $48,519 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use 4-unit property with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 2200 Diamond Hill Road Cumberland, RI.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Mixed‑use property with 2 commercial and 2 residential units offers diverse income streams.; Excellent location between Chapel Four Corners and I‑295 on Diamond Hill Road.; Separate electrical meters for each unit plus a house meter.
