Auto Shop with
25 Canal Street, Westerly, RI 02891
For Sale
New
Contact for pricing
Multiple garage bays, second-floor office space, and a ground-level shed support a range of automotive operations.
Property Size1,680 SF
Price / SF$1.49
Days on Market4
Property Features for 25 Canal Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Service Bays
Real Estate Included
Amenities
Toilet and Shower
Storage Shed
Gas Heat
Air Compressor Lines
Building Details
Year Built
Buildings
Listing Agency:
RE/MAX South County
(401) 596-2067
Listed By:
Lynn Azzinaro · License RI REC.0014390
(401) 742-4584
Source:
Lockandkeyre
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:16PM
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 South County
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,680-square-foot auto shop at 25 Canal Street in Westerly, Rhode Island, includes a 2-bay garage measuring 28 by 30 feet and a separate 14-by-30-foot, single-bay garage. A 14-by-30-foot office occupies the second floor and includes a toilet and shower. A 10-by-8-foot storage shed sits at ground level. The building was constructed in 1989 and has gas heat and installed air-compressor lines with wiring. The property is zoned DC11 Downtown Commercial.
Key Highlights
- 1,680 square feet in total
- 28‑by‑30‑foot garage with two bays
- Separate 14‑by‑30‑foot single‑bay garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,862
Suggested Prices Based on Cap Rates
Cap Rate 5%
$157,240
$157.2K
Cap Rate 7%
$112,314
$112.3K
Cap Rate 9%
$87,356
$87.4K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$11.8K $7.00/SF
− Vacancy
−$529 −$0.32/SF
EGI
$11.2K $6.69/SF
− OpEx
−$3.4K −$2.01/SF
NOI
$7.9K $4.68/SF
Area
Washington County, RI
Vacancy
4.50%
Lease Rate
$7.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$157,240
Cap Rate 7%
$112,314
Cap Rate 9%
$87,356
Alternative Uses
Best Use
Retail
$243.3K
$212.9K – $283.9K
NOI $17,034 @ 7.0% cap
Second Best
Industrial
$112.3K
$98.3K – $131.0K
NOI $7,862 @ 7.0% cap
Theoretical Best
Healthcare Medical
$335.7K
$293.7K – $391.6K
NOI $23,496 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Service bays
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Dining 8%
Cumberland Farms
Shops & Services
8,469 visits/mo
0.3 miles
Mobil
Shops & Services
6,362 visits/mo
0.4 miles
Gulf Oil
Shops & Services
3,916 visits/mo
0.4 miles
The Cafe
Dining
1,584 visits/mo
0.2 miles
Demographics for 02891, RI
21,803
Population
12,660
Households
1.7
Avg Household Size
50
Median Age
41%
College-Educated
94%
High-School Grad
26.3 sq mi
ZIP Area
829
Density / Sq Mi
$90,435
Median Household Income
$49,448
Median Earnings
$1,249
Median Rent
$422,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Westerly Auto Body — 74 School St, Westerly, RI 02891
- Pat's Auto Center — 17 Ledward Ave, Westerly, RI 02891
- Emotionlessness Towings & Co — 146 W Broad St, Pawcatuck, CT 06379
- SLogan Auto Body — 6 1/2 Chase St, Pawcatuck, CT 06379
- Kars Automotive — 87 Main St # B, Westerly, RI 02891
Frequently Asked Questions
What type of property is this?
Auto shop - Multiple garage bays, second-floor office space, and a ground-level shed support a range of automotive operations.
Where is this auto shop located?
The property is located at 25 Canal Street Westerly, RI.
What are key features of this property?
This property features: 1,680 square feet in total; 28‑by‑30‑foot garage with two bays; Separate 14‑by‑30‑foot single‑bay garage
