Three-Unit NNN Restaurant
For Sale
Under Contract
$1,395,000
382 Thames Street, Bristol, RI 02809
Commercial/Business,Commercial Sale, Bristol, RI
Property Size8,514 SF
Lot Size0.33 Acres
Price / SF$163.85
Days on Market966
Property Features for 382 Thames Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
W
Parking
10
Interior features
Ceiling Height (9 to 12 Ft)
Subdivision
Downtown Bristol
Lot features
Sidewalks, Downtown, Free Standing
View
Water
Standard status
Active Under Contract
Size
8,514 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16197
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1900
Floors in Building
1
Number of units
4
Building materials
Masonry
Listing Agency:
Keller Williams Coastal · Keller Williams Realty
(401) 845-9200
Listed By:
The Chris Woodard Team
(401) 640-3481
Added: Mar 11, 2024
Changed: Oct 19
Last Checked: Nov 1 at 4:06AM
MLS# 1353745
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 freestanding masonry property contains three separate units, including two restaurant spaces occupied under long-term NNN leases. The remaining warehouse-style unit is occupied by the owner and includes over 2,500 square feet. Each unit has separate utilities, and the building provides off-street parking. Central heating and air conditioning serve the property, which was built in 1900 and includes ceiling heights ranging from 9 to 12 feet.
The property is positioned in Bristol’s Waterfront District at 382 Thames Street, directly across from Bristol Harbor, 80 high end condominiums, the East Bay bike path, and Independence Park. The site has over 115 feet of frontage and can be accessed by car, bicycle, or on foot. The Bristol Harbor Inn Hotel and Event Center and downtown attractions are within walking distance.
The property is positioned in Bristol’s Waterfront District at 382 Thames Street, directly across from Bristol Harbor, 80 high end condominiums, the East Bay bike path, and Independence Park. The site has over 115 feet of frontage and can be accessed by car, bicycle, or on foot. The Bristol Harbor Inn Hotel and Event Center and downtown attractions are within walking distance.
Key Highlights
- Three separate units, including two restaurant spaces with long‑term NNN leases
- Owner‑occupied warehouse‑style unit with over 2,500 square feet
- Over 115 feet of frontage across from Bristol Harbor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,877
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,540
$1.9M
Cap Rate 7%
$1,341,100
$1.3M
Cap Rate 9%
$1,043,078
$1.0M
Market Conditions
NOI Build-Up for 8,514 SF
Gross rent
$117.5K $13.80/SF
− Vacancy
−$7.0K −$0.83/SF
EGI
$110.4K $12.97/SF
− OpEx
−$16.6K −$1.95/SF
NOI
$93.9K $11.03/SF
Area
Bristol County, RI
Vacancy
6.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,877,540
Cap Rate 7%
$1,341,100
Cap Rate 9%
$1,043,078
Alternative Uses
Best Use
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $151,114 @ 7.0% cap · market cap 10.83%
Second Best
Warehouse
$1.34M
$1.17M – $1.56M
NOI $93,877 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,388 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 02809, RI
22,493
Population
9,670
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,295
Density / Sq Mi
$96,005
Median Household Income
$41,266
Median Earnings
$1,352
Median Rent
$447,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
NNN property - Freestanding masonry building combines restaurant occupancy with a warehouse-style unit and separate utilities.
Where is this nnn property located?
The property is located at 382 Thames Street Bristol, RI.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Three separate units, including two restaurant spaces with long‑term NNN leases; Owner‑occupied warehouse‑style unit with over 2,500 square feet; Over 115 feet of frontage across from Bristol Harbor
