Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    33 Railroad Ave Westerly, RI 02891

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $899,000

    Mixed-use properties

    Property size:
    13,000 SF
    Lot size:
    0.25 Acres

    Property Features for 33 Railroad Ave

    General Information

    Standard status
    Contract
    Size
    13,000 SF
    Lot size
    0.25 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Thomas Switz
    Source: Corcoran

    Listing Agency: SWITZ REAL ESTATE ASSOCIATES Listing Agent: Thomas Switz

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Located in downtown Westerly this 6500 +/- sq. ft. commercial building offers approx. 5000 sq. ft. of prime first floor retail space, 2 residential apartments and another 4000+/- additional space in the basement. The first-floor commercial space has 12-foot ceiling height and a ground level loading door with good parking available in back of the building. Convenient location, ideal space for many different uses. Located across the street from the Westerly Train Station and in town where you can enjoy all the wonderful restaurants, cafe's, local shopping, the renovated YMCA and beautiful Wilcox Park.
    Location Intelligence

    Current Use by Public Records

    Brausa Carlson Gracie ... Sports School Ace Training Systems ... Gym & Fitness Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Westerly
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.8287086
    Latitude
    41.3814622

    Nearby Similar for Sale

    • $589,900
      0.41 Acres

      Westerly Commercial Building with Bays

      Well-maintained 3,600 SF commercial building on 0.41 acres.
      442 Bradford Rd, Westerly, RI 02808
      View Details
    • Contact for pricing
      1,252 SF

      Westerly Office Suite For Sale

      Turn-key office suite near RI/CT state line.
      101 Airport Rd, Westerly, RI 02891
      View Details
    • Contact for pricing
      995 SF

      Westerly Turn-Key Office Suite

      Turn-key office suite near RI/CT state line.
      101 Airport Rd, Westerly, RI 02891
      View Details
    • $545,000
      Pending

      Industrial Building with Rental Potential

      3700 sqft industrial building in Westerly, RI with rental potential.
      129 Oak St, Westerly, RI 02891
      View Details
    • Contact for pricing
      3.64 Acres

      Renovated Commercial Property For Sale

      3,264 SF renovated commercial property in high-traffic area.
      82 Airport Rd, Westerly, RI 02891
      View Details
    • Contact for pricing
      200 SF

      Downtown Westerly Office/Retail Space

      Office, retail, or storage space in downtown Westerly.
      53 High St, Westerly, RI 02891
      View Details
    • Contact for pricing

      Westerly Office Space Available

      Private office space with utilities included.
      6 Franklin St, Westerly, RI 02891
      View Details
    • Contact for pricing
      0.24 Acres

      Downtown Westerly Commercial Units Available

      Two commercial units in downtown Westerly, suitable for office/retail.
      53 High St, Westerly, RI 02891
      View Details
    • Contact for pricing
      200 SF

      Westerly Commercial Units For Sale

      Two commercial units available in downtown Westerly, Rhode Island.
      53 High St, Westerly, RI 02891
      View Details
    • $569,300
      0.11 Acres

      Westerly Triplex: Investment Opportunity

      Charming three-unit residence in Westerly's desirable North End.
      55 Pleasant St, Westerly, RI 02891
      View Details
    • $480,000
      1,022 SF

      Turnkey Restaurant Near Downtown Westerly

      Turnkey restaurant with seating for 49 near downtown Westerly.
      8 Industrial Dr, Westerly, RI 02891
      View Details
    • $545,000
      3,720 SF

      Industrial Building with Retail Area

      3700 sqft building with storage, office, and retail space.
      129 Oak St, Westerly, RI 02891
      View Details

    FAQs

    Where is this mixed-use property located?
    The property is located at 33 Railroad Ave Westerly, RI.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: - Prime first-floor retail space (approx. 5000 sq. ft.) in a downtown location.; - Conveniently located across the street from the Westerly Train Station.; - Includes two residential apartments for additional income or use.
    (860) 884-6003
    Request Owner's contact information
    33 Railroad Ave Westerly, RI 02891
    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.
    33 Railroad Ave
    Westerly, RI 02891
    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
    33 Railroad Ave Westerly, RI 02891
    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

    We can help!
    Listing Contact
    Thomas Switz
    Real Estate License ID: REB.0757584
    (860) 884-6003 (860) 572-9501
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!