4-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 Market358
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
Heat Pump (Heating), Baseboard
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 · License #280702
(401) 374-1211
Added: Oct 15, 2025
Changed: Sep 28
Last Checked: Oct 7 at 11:06PM
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 brick-and-frame property in Cumberland combines two ground-level commercial spaces with two apartments above. Built in 1960, the building has 7 to 9 feet of ceiling height and C-1 zoning. Electrical service is separately metered for each unit, with an additional house meter. Heating and cooling include ductless systems, electric baseboard heat, and window units. A fire alarm is installed, and the roof was replaced in August 2026.
The site measures 0.24 acres and provides parking for 8 to 10 vehicles. A sign on the property generates additional income from a neighboring assisted living facility. The owner covers water, sewer, and hot water costs. The property may also be acquired together with an adjacent 6-unit building and a 20,473-square-foot vacant lot.
The site measures 0.24 acres and provides parking for 8 to 10 vehicles. A sign on the property generates additional income from a neighboring assisted living facility. The owner covers water, sewer, and hot water costs. The property may also be acquired together with an adjacent 6-unit building and a 20,473-square-foot vacant lot.
Key Highlights
- Four units: two commercial spaces and two apartments
- 2,914 square feet on a 0.24‑acre site; C‑1 zoning
- Separate electrical meters for each unit, plus a house meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,507
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,140
$770.1K
Cap Rate 7%
$550,100
$550.1K
Cap Rate 9%
$427,856
$427.9K
Market Conditions
NOI Build-Up for 2,914 SF
Gross rent
$74.5K $25.56/SF
− Vacancy
−$4.5K −$1.53/SF
EGI
$70.0K $24.03/SF
− OpEx
−$31.5K −$10.81/SF
NOI
$38.5K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,140
Cap Rate 7%
$550,100
Cap Rate 9%
$427,856
Alternative Uses
Best Use
Apartment 5plus
$550.1K
$481.3K – $641.8K
NOI $38,507 @ 7.0% cap · market cap 5.28%
Second Best
Mixed Use
$491.7K
$430.3K – $573.7K
NOI $34,422 @ 7.0% cap · market cap 4.72%
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
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial spaces and two upstairs apartments share the building, with individual electrical meters for each unit.
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 units: two commercial spaces and two apartments; 2,914 square feet on a 0.24‑acre site; C‑1 zoning; Separate electrical meters for each unit, plus a house meter
