Four-Unit Mixed-Use
For Sale
$729,000
2200 Diamond Hill Road, Cumberland, RI 02864
Commercial/Business,Commercial Sale, Cumberland, RI
Property Size2,914 SF
Lot Size0.24 Acres
Price / SF$250.17
Days on Market313
Property Features for 2200 Diamond Hill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Parking
8
Interior features
Ceiling Height (7 to 9 Ft)
Subdivision
Chapel Four Corners
Lot features
Paved, Sidewalks, Free Standing, Suburban
Standard status
Active
Size
2,914 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5205
Utilities
Heating system
Baseboard, Heat Pump (Heating)
Cooling system
Ductless, Window Unit(s)
Building Details
Year built
1960
Floors in Building
2
Number of units
4
Building materials
Brick, Frame
Listing Agency:
Re/Max Town & Country · RE/MAX International
(401) 333-0020
Listed By:
The Hometown Experts Team
(401) 374-1211
Added: Oct 15, 2025
Changed: Aug 19
Last Checked: Aug 23 at 6:06PM
MLS# 1397643
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,914-square-foot mixed-use building contains four units arranged across two levels, with two commercial spaces on the first floor and two residential apartments above. Constructed in 1960, the property includes brick and frame construction, separate electrical meters for each unit, and a dedicated house meter. Heating and cooling are provided through ductless systems, electric baseboard heat, and window units. The building is equipped with a fire alarm, and the roof was replaced in August 2026.
Situated on Diamond Hill Road in Cumberland, the property lies between Chapel Four Corners and I-295. The 0.24-acre site provides parking for 8 to 10 vehicles and includes a sign that generates additional income from a neighboring assisted living facility. Water, sewer, and hot water are paid by the owner, and the property carries C-1 zoning.
Situated on Diamond Hill Road in Cumberland, the property lies between Chapel Four Corners and I-295. The 0.24-acre site provides parking for 8 to 10 vehicles and includes a sign that generates additional income from a neighboring assisted living facility. Water, sewer, and hot water are paid by the owner, and the property carries C-1 zoning.
Key Highlights
- Four‑unit layout with two commercial spaces and two residential apartments
- 2,914 square feet on a 0.24‑acre site
- C‑1 zoning in Cumberland, RI
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
$48,519
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
6.66%
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%
$970,380
$970.4K
Cap Rate 7%
$693,129
$693.1K
Cap Rate 9%
$539,100
$539.1K
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
$74.1K $25.44/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.3K $23.79/SF
− OpEx
−$20.8K −$7.14/SF
NOI
$48.5K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$970,380
Cap Rate 7%
$693,129
Cap Rate 9%
$539,100
Alternative Uses
Best Use
Multifamily LT 5
$693.1K
$606.5K – $808.7K
NOI $48,519 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$550.1K
$481.3K – $641.8K
NOI $38,507 @ 7.0% cap · market cap 5.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily 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 - C-1-zoned building combines ground-floor commercial space with residential apartments.
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: Four‑unit layout with two commercial spaces and two residential apartments; 2,914 square feet on a 0.24‑acre site; C‑1 zoning in Cumberland, RI
