Conventional Restaurant with Liquor
For Sale
$650,000
405 Church Street, Burrillville, RI 02859
Commercial/Business,Commercial Sale, Burrillville, RI
Property Size3,210 SF
Lot Size0.53 Acres
Price / SF$202.49
Days on Market282
Property Features for 405 Church Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
VC
Parking
45
Security features
Security System
Interior features
Ceiling Height (7 to 9 Ft)
Subdivision
Pascoag
Lot features
Corner, Paved, Sidewalks, Free Standing, Rural, Suburban
Standard status
Active
Size
3,210 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4390
Utilities
Heating system
Forced Air
Building Details
Year built
1963
Number of units
1
Building materials
Masonry
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Kristen Moore
(401) 413-6907
Added: Nov 11, 2025
Changed: Aug 19
Last Checked: Aug 20 at 7:06PM
MLS# 1399925
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.
Investment Insights
Based on property information with market context.
This conventional restaurant offering includes the real estate and operating business at 405 Church Street in Burrillville, Rhode Island. The 3,210-square-foot masonry building was constructed in 1963 and provides seating for approximately 90 guests, with both dine-in and takeout service. The layout includes restrooms that have been updated, a 7- to 9-foot ceiling height, and forced-air heating.
Included personal property consists of furniture, fixtures, kitchen equipment, coolers, and walk-in units. An active liquor license is also part of the offering. The property occupies 0.526 acres and is designated VC zoning. The restaurant opened in 1964 and has operated under the same ownership since 1996.
Included personal property consists of furniture, fixtures, kitchen equipment, coolers, and walk-in units. An active liquor license is also part of the offering. The property occupies 0.526 acres and is designated VC zoning. The restaurant opened in 1964 and has operated under the same ownership since 1996.
Key Highlights
- Real estate and operating restaurant business offered together
- 3,210‑square‑foot masonry building constructed in 1963
- Seating for approximately 90 guests with dine‑in and takeout service
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
$38,880
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
5.98%
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%
$777,600
$777.6K
Cap Rate 7%
$555,429
$555.4K
Cap Rate 9%
$432,000
$432.0K
Market Conditions
NOI Build-Up for 3,210 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
$57.8K $18.00/SF
− Vacancy
−$5.9K −$1.85/SF
EGI
$51.8K $16.15/SF
− OpEx
−$13.0K −$4.04/SF
NOI
$38.9K $12.11/SF
Area
Providence County, RI
Vacancy
10.28%
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%
$777,600
Cap Rate 7%
$555,429
Cap Rate 9%
$432,000
Alternative Uses
Best Use
Specialty Retail
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$763.5K
$668.1K – $890.8K
NOI $53,448 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02859, RI
6,701
Population
2,465
Households
2.7
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
27.6 sq mi
ZIP Area
243
Density / Sq Mi
$118,662
Median Household Income
$43,417
Median Earnings
$1,223
Median Rent
$361,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established dining operation with dine-in and takeout service, equipment, and seating for approximately 90 guests.
Where is this conventional restaurant located?
The property is located at 405 Church Street Burrillville, RI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Real estate and operating restaurant business offered together; 3,210‑square‑foot masonry building constructed in 1963; Seating for approximately 90 guests with dine‑in and takeout service
