Cottage Creative
New
For Sale
$729,900
4202 Old Post Road, Charlestown, RI 02813
Commercial/Business,Commercial Sale, Charlestown, RI
Property Size2,402 SF
Lot Size0.35 Acres
Price / SF$303.87
Days on Market2
Property Features for 4202 Old Post Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
TVD
Parking
10
Subdivision
Business District / Perry Pond
Lot features
Suburban
View
Water
Standard status
Active
Size
2,402 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1925
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Water source
Well
Building Details
Year built
1838
Floors in Building
2
Number of units
2
Architectural style
Cottage
Listing Agency:
Lila Delman Compass
(401) 789-6666
Listed By:
The Local Group
(401) 363-3710
Added: Aug 29
Last Checked: Aug 30 at 5:06AM
MLS# 1421892
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.
Built in 1838, this 2,402-square-foot cottage-style property offers a flexible interior with exposed wood details and a layout suited to creative or office-oriented occupancy. The building previously served as a schoolhouse and most recently operated as an art gallery. Forced-air heating supports the interior, while the property is served by a well and septic tank.
The property sits on 0.35 acres along Old Post Road in Charlestown Village. On-site parking is available, with access to Route 1 and nearby beaches, shops, and restaurants. Traditional Village District zoning may allow exploration of a mixed-use configuration combining commercial and residential space, subject to verification of intended use and zoning requirements with the Town of Charlestown.
The property sits on 0.35 acres along Old Post Road in Charlestown Village. On-site parking is available, with access to Route 1 and nearby beaches, shops, and restaurants. Traditional Village District zoning may allow exploration of a mixed-use configuration combining commercial and residential space, subject to verification of intended use and zoning requirements with the Town of Charlestown.
Key Highlights
- 2,402‑square‑foot cottage‑style creative space built in 1838
- 0.35‑acre property along Old Post Road in Charlestown Village
- Traditional Village District zoning
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
$27,799
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
3.81%
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%
$555,980
$556.0K
Cap Rate 7%
$397,129
$397.1K
Cap Rate 9%
$308,878
$308.9K
Market Conditions
NOI Build-Up for 2,402 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
$48.1K $20.04/SF
− Vacancy
−$11.1K −$4.61/SF
EGI
$37.1K $15.43/SF
− OpEx
−$9.3K −$3.86/SF
NOI
$27.8K $11.57/SF
Area
Washington County, RI
Vacancy
23.00%
Lease Rate
$20.04 /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%
$555,980
Cap Rate 7%
$397,129
Cap Rate 9%
$308,878
Alternative Uses
Best Use
Office B
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$479.9K
$419.9K – $559.9K
NOI $33,594 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 02813, RI
8,021
Population
5,334
Households
1.5
Avg Household Size
53
Median Age
42%
College-Educated
94%
High-School Grad
36.7 sq mi
ZIP Area
219
Density / Sq Mi
$103,147
Median Household Income
$53,783
Median Earnings
$1,499
Median Rent
$467,700
Median Home Value
Market
Vacancy Rate% for Office 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?
Creative space - Cottage-style property with on-site parking, Traditional Village District zoning, and access to Route 1.
Where is this creative space located?
The property is located at 4202 Old Post Road Charlestown, RI.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: 2,402‑square‑foot cottage‑style creative space built in 1838; 0.35‑acre property along Old Post Road in Charlestown Village; Traditional Village District zoning
