Building Details

Year Built 1950

Stories 1

Units 1

Tenancy Multi

Listing Agency: Residential Properties Ltd p***@residentialproperties.com Show Phone

Listed By: Patrick Murray · License #REB.0016731

Source: Crexi

Added: Jun 21 Changed: Aug 8 Last Checked: Aug 11 at 1:36PM

Report an Issue

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 Residential Properties Ltd

Investment Insights

Based on property information with market context.

This coffee shop/restaurant property is available for purchase and totals 1,400 square feet. The listing is positioned for food-and-beverage operations, making it a straightforward option for an operator looking for a dedicated restaurant-style footprint.

The property is located at 388 Church St in Wood River Junction, RI. Its street address provides clear, direct location for prospective buyers and tenant operators evaluating storefront-based use.

As a compact restaurant/coffee concept space, the asset can fit a range of neighborhood food-and-beverage offerings, subject to applicable permitting and code requirements. Because the information provided centers on use type and overall size rather than specialized buildout features, prospective buyers should plan to review the space conditions and any improvements in place before finalizing plans for their concept. Overall, this is a simple, purchase-focused opportunity for an end user or investor evaluating a coffee shop or restaurant use at a defined 1,400-square-foot site.

Key Highlights

• Food‑and‑beverage service property for sale at 388 Church St
• Year built: 1950

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$18,106

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

3.02%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$362,120 $362.1K

Cap Rate 7%

$258,657 $258.7K

Cap Rate 9%

$201,178 $201.2K

Market Conditions

NOI Build-Up for 1,400 SF 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.

Gross rent

$25.2K $18.00/SF

− Vacancy

−$1.1K −$0.76/SF

EGI

$24.1K $17.24/SF

− OpEx

−$6.0K −$4.31/SF

NOI

$18.1K $12.93/SF

Area

Washington County, RI

Vacancy

4.20%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$362,120

Cap Rate 7%

$258,657

Cap Rate 9%

$201,178

Alternative Uses

Best Use

Specialty Retail

$258.7K

$226.3K – $301.8K (±1% cap)

NOI $18,106 @ 7.0% cap · market cap 3.02%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$279.7K

$244.8K – $326.3K (±1% cap)

NOI $19,580 @ 7.0% cap · market cap 3.26%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Coffee shops

Suggested Use

Top Pick Catering Service Computer & Electronic Repair Gym & Fitness Center Tech Support Center Cafe & Coffee Shop Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

16

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 02894, RI

814

Population

236

Households

3.4

Avg Household Size

41

Median Age

46%

College-Educated

100%

High-School Grad

4.2 sq mi

ZIP Area

194

Density / Sq Mi

$341,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this coffee shops located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar Off Market Nearby

• The Food Truck — 388 carolina-alton rd, wood river junction, ri 02894
• Wood River Coffee Roasters — Richmond, RI 02894

Frequently Asked Questions

What type of property is this?

Coffee shop - For purchase coffee shop/restaurant property at 388 Church St, sized for food-and-beverage service use.

Where is this coffee shop located?

The property is located at 388 CHURCH ST Wood River Junction, RI.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: Food‑and‑beverage service property for sale at 388 Church St; Year built: 1950