Versatile Portsmouth Property For
35 Dyer Portsmouth, RI 02871
35 Dyer, Portsmouth, RI, 02871
$949,000
For Sale
$949,000
Unique property with redevelopment potential in a desirable coastal community.
Property Size4,800 SF
Price / SF$197.71
Days on Market106
Property Features for 35 Dyer
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1930
Listing Agency
OUR REAL ESTATE
(401) 835-7778
Listed by
LAUREN MAILLOUX
Source
Corcoran
Added: Apr 6 Checked: Jul 20 at 3:39 am
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 OUR REAL ESTATE
Investment Insights
Based on property information with market context.
Located at 35 Dyer Street in Portsmouth, this property offers a unique opportunity for investors, developers, or owner-operators. The generous parcel includes an additional abutting lot at 0 Dyer St, presenting significant opportunity for long-term value creation and potential redevelopment. The existing structure spans approximately 4,800+ square feet and is currently approved for professional office use by special permit. Originally constructed as an American Legion hall, the building has evolved over time into a dance studio and later an office space, demonstrating its adaptability. The main level features expansive open areas well-suited for office or collaborative workspace, while the lower level is currently designated for storage use. The property is located in an established neighborhood with convenient access to local amenities, waterfront areas, and major routes. This is a chance to secure a versatile asset in a desirable coastal community, whether for continued office use, future reconfiguration, or exploring potential subdivision or zoning relief.
Key Highlights
- Large 4,800+ sq ft building approved for professional office use
- Includes an additional abutting lot (0 Dyer St) for potential redevelopment or expansion
- Located in a desirable coastal community with convenient access to amenities, waterfront, and major routes
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.2k | $16.08 |
| − Vacancy | −$16.0k | −$3.32 |
| EGI | $61.2k | $12.76 |
| − OpEx | −$15.3k | −$3.19 |
| NOI | $45.9k | $9.57 |
4,800 SF · lease $16.08/SF/yr · vacancy 20.67% · expense 25.00%
Alternative Uses
Best Use
Office B
$656.0K
$574.0K – $765.4K
NOI $45,923 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,170 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Portsmouth Financial Center
Financial Advisor
Portsmouth Public Vape ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Unique property with redevelopment potential in a desirable coastal community.
Where is this office units located?
The property is located at 35 Dyer Portsmouth, RI.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Large 4,800+ sq ft building approved for professional office use; Includes an additional abutting lot (0 Dyer St) for potential redevelopment or expansion; Located in a desirable coastal community with convenient access to amenities, waterfront, and major routes
