Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Property with Vacant Lot Title is generated by Realmo AI

    2220 Diamond Hill Road Cumberland, Cumberland, RI 02864

    View on Map
    Claim this Listing
    For Sale
    $1,099,000

    Six-unit mixed-use property with a vacant lot for sale.

    Property size:
    3,903 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $281/SF
    Added:
    May 16, 2026
    Days on Market:
    14
    Last Refresh:
    May 16 at 1:55 am

    Property Features for 2220 Diamond Hill Road Cumberland

    General Information

    Standard status
    Active
    Size
    3,903 SF
    Lot size
    0.50 Acres

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Brian DaSilva

    Listing agent Brian DaSilva

    Listing office

    Listing date May 16, 2026

    Source Milestonerealtyinc

    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 Brian DaSilva

    HighLights

    • Mixed‑use property: 6 units (2 commercial, 4 residential) plus vacant lot (over 1/2 acre).
    • Fully occupied building generating immediate income.
    • Excellent location on Diamond Hill Road, between Chapel Four Corners and I‑295.
    • Ample parking available for 14+ vehicles.
    • Separate electric meters for 5 units plus a house meter.
    • High‑efficiency gas boiler with 6 zones for heating.

    Overview

    This is a mixed-use property featuring six units and a vacant lot exceeding one-half acre. The property is situated on Diamond Hill Road, conveniently located between Chapel Four Corners and I-295. The building includes two commercial units, one on the first level and another on the lower level, along with four residential apartments, with two apartments located on each of the first and second levels. A two-stall garage is attached to the building; one stall is used by a tenant, and the other is rented to a third party. There are separate electric meters for five units, plus a house meter. Heat is centrally provided by the owner via a gas IBC high-efficiency direct vent boiler with six zones. The owner also covers the cost of hot water, water, and sewer. A washer and dryer are available in the basement. The building is equipped with a fire alarm system. The property is currently fully occupied and offers parking for over 14 vehicles. The adjacent four-unit property on a 1/4 acre lot is also available for purchase.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.403397
    Latitude
    41.9484865

    Nearby Similar for Sale

    • $1,749,000
      2,919 SF

      Cumberland Multifamily Estate on 7.84 Acres

      Two residences on 7.84 acres, ideal for various living arrangements.
      365 W Wrentham Road, Cumberland, RI 02864
      View Details
    • $600,000
      2,025 SF

      Spacious Two-Family Cumberland Property

      Well-maintained two-family property with updated finishes and separate utilities.
      19 Hardwick Street, Cumberland, RI 02864
      View Details
    • $549,900
      3,892 SF

      Cumberland Multi-Family Property For Sale

      Spacious multi-family property with investment potential in Cumberland, Rhode Island.
      19 Elm Street, Cumberland, RI 02864
      View Details
    • $599,000
      3,564 SF

      Renovated Duplex in Cumberland Hill

      Newly renovated duplex in Cumberland Hill, ideal for owner-occupancy.
      20 Mount Pleasant View Avenue, Cumberland, RI 02864
      View Details
    • $750,000
      3,276 SF

      Versatile Multifamily with Business Potential

      Two-family property with grandfathered zoning for office use.
      3288 Mendon Road, Cumberland, RI 02864
      View Details
    • $879,800
      3,176 SF

      New Construction Duplex in Cumberland

      New construction duplex with modern amenities in a quiet location.
      29 Prospect Street, Cumberland, RI 02864
      View Details
    • $675,000
      4,206 SF

      Cumberland Multifamily on Large Lot

      Two-unit property on 1.29 acres near conservation land.
      97 Angell Road, Cumberland, RI 02864
      View Details
    • $729,000
      2,914 SF

      Mixed-Use 4-Unit Opportunity

      Mixed-use property with commercial and residential units in Cumberland, RI.
      2200 Diamond Hill Road, Cumberland, RI 02864
      View Details
    • $1,299,000
      3,936 SF

      Cumberland Mixed-Use Freestanding Building

      Remodeled mixed-use building in high-traffic location with ample parking.
      4115 Mendon Road, Cumberland, RI, RI 02864
      View Details
    • $1,299,000
      3,936 SF

      Cumberland Mixed-Use Building For Sale

      Remodeled mixed-use building on high-traffic road, suitable for various businesses.
      4115 Mendon Road, Cumberland, RI 02864
      View Details
    • $470,000
      1,552 SF

      Cumberland Multifamily Property For Sale

      Two-unit property in Cumberland, RI with rental income potential.
      25 Pine Swamp Road, Cumberland, RI 02864
      View Details
    • $199,000

      Cumberland Buildable Residential Lot

      Buildable lot in Cumberland, ideal for custom home construction.
      38 Summit Road, Cumberland, RI 02864
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Six-unit mixed-use property with a vacant lot for sale.
    Where is this mixed-use property located?
    The property is located at 2220 Diamond Hill Road Cumberland Cumberland, RI.
    What is the asking price?
    The asking price for this property is $1,099,000.
    What are key features of this property?
    This property features: Mixed‑use property: **6 units (2 commercial, 4 residential) plus vacant lot (over 1/2 acre)**.; **Fully occupied building generating immediate income**.; Excellent location on Diamond Hill Road, between Chapel Four Corners and I‑295.
    (508) 501-1443
    We can help!
    Listing Contact
    Brian DaSilva
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2220 Diamond Hill Road, Cumberland, RI, RI 02864
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!