Mixed-Use Property with Masonry
For Sale
$325,000
37 Mill Road, Foster, RI 02825
Commercial/Business,Commercial Sale, Foster, RI
Property Size1,800 SF
Lot Size4.63 Acres
Price / SF$180.56
Days on Market443
Property Features for 37 Mill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
1
Lot features
Suburban
Standard status
Active
Size
1,800 SF
Lot size
4.63 Acres
Taxes and HOA fees
Tax Year
2025
Building Details
Year built
1972
Number of units
1
Building materials
Masonry
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Kenneth Scotti · License #REB.0016785
(401) 255-2391
Added: Aug 21, 2025
Changed: Sep 30
Last Checked: Nov 6 at 12:06PM
MLS# 1393224
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.
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Investment Insights
Based on property information with market context.
This mixed-use property comprises 4.63 acres and includes an existing 1,800-square-foot masonry building. Constructed in 1972, the building is part of a commercial and residential site offered in its current as-is condition.
The property is located at 37 Mill Road in Foster, Rhode Island, within Providence County. Buyers are responsible for conducting their own due diligence regarding potential use and suitability.
The property is located at 37 Mill Road in Foster, Rhode Island, within Providence County. Buyers are responsible for conducting their own due diligence regarding potential use and suitability.
Key Highlights
- 4.63‑acre mixed‑use property
- Existing 1,800‑square‑foot masonry building
- Building constructed in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,263
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,260
$425.3K
Cap Rate 7%
$303,757
$303.8K
Cap Rate 9%
$236,256
$236.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$37.8K $21.00/SF
− Vacancy
−$3.8K −$2.10/SF
EGI
$34.0K $18.90/SF
− OpEx
−$12.8K −$7.09/SF
NOI
$21.3K $11.81/SF
Area
Providence County, RI
Vacancy
10.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,260
Cap Rate 7%
$303,757
Cap Rate 9%
$236,256
Alternative Uses
Best Use
Mixed Use
$303.8K
$265.8K – $354.4K
NOI $21,263 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$428.2K
$374.6K – $499.5K
NOI $29,971 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
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Business Placement
Demographics for 02825, RI
5,265
Population
2,027
Households
2.6
Avg Household Size
47
Median Age
34%
College-Educated
94%
High-School Grad
55.0 sq mi
ZIP Area
96
Density / Sq Mi
$110,177
Median Household Income
$51,550
Median Earnings
$1,525
Median Rent
$398,900
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Providence County, RI
Properties on Market for Mixed-use properties in Providence County
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential mixed-use site with an existing masonry building.
Where is this mixed-use property located?
The property is located at 37 Mill Road Foster, RI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 4.63‑acre mixed‑use property; Existing 1,800‑square‑foot masonry building; Building constructed in 1972
