Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Bristol Retail/Office Opportunity Title is generated by Realmo AI

    423 Hope #21U, Bristol, RI 02809

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $649,900

    Historic downtown Bristol location ideal for retail or office use.

    Type:Commercial
    Property size:
    1,926 SF
    Price / SF:
    $337/SF
    Added:
    Jan 12, 2026
    Days on Market:
    131
    Last Refresh:
    Apr 5 at 9:11 pm

    Property Features for 423 Hope #21U

    General Information

    Standard status
    Active
    Size
    1,926 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1880

    We can help!

    Listing Contact
    Kelley Collins
    Kelley Collins

    Listing agent Kelley Collins

    Listing office Collins Commercial Real Estate, LLC

    Listing date Jan 12, 2026

    Source Corcoran

    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 Collins Commercial Real Estate, LLC

    HighLights

    • Prime location in historic downtown Bristol, RI with excellent highway access and visibility.
    • Versatile 1,526 SF first‑floor unit suitable for office, retail, or service business.
    • Features include hardwood flooring, beautiful lighting, and a custom built‑in island.
    • Includes a back room with kitchen use and an ADA‑compliant bathroom.
    • Additional 400 SF basement storage/rubbish area/gym area.
    • Abundant street parking and town parking available.

    Overview

    This 1,526 square-foot first-floor unit presents an opportunity to establish a new business or relocate an existing office, retail, or service business in historic downtown Bristol, RI. The space features hardwood flooring, lighting, and a custom-built island. A back room was previously used as a kitchen. The unit includes an ADA-compliant bathroom and a 400 square-foot basement area for storage. The property benefits from highway access and visibility in downtown Bristol, located near the waterfront, marinas, waterfront parks, Colt State Park, and Roger Williams University. The area is known for its Fourth of July Parade and Celebration, as well as fine dining, pubs, art galleries, and offices. Street parking is available, along with town parking off Court Street.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $366.2K
    NOI $32,956 @ 9.00% cap · cautious / downside scenario
    Moderate
    $470.8K
    NOI $32,956 @ 7.00% cap · market / base-case scenario
    Aggressive
    $659.1K
    NOI $32,956 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $52.0k $27.00
    − Vacancy −$8.1k −$4.19
    EGI $43.9k $22.81
    − OpEx −$11.0k −$5.70
    NOI $33.0k $17.11
    1,926 SF · lease $27.00/SF/yr · vacancy 15.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $470.8K
    $412.0K – $549.3K (±1% cap)
    NOI $32,956 @ 7.0% cap · market cap 5.07%
    Second Best
    Retail
    $409.6K
    $358.4K – $477.9K (±1% cap)
    NOI $28,673 @ 7.0% cap · market cap 4.41%
    Theoretical Best
    Office A
    $644.4K
    $563.8K – $751.8K (±1% cap)
    NOI $45,105 @ 7.0% cap · market cap 6.94%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    RE/MAX River's Edge Real Estate Agency Belvedere at Bristol Condominium Complex Bristol Art Gallery Art Gallery Kyle Walker, REALTOR Real Estate Agency Jordan Ross, Realtor Real Estate Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Coastal Blooms Floral Studio — 500 Wood St #205, Bristol, RI 02809
    • Bette's Finishing Touch — 572 Wood St, Bristol, RI 02809

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.2765
    Latitude
    41.6697

    Nearby Similar for Sale

    • $849,900
      3,170 SF

      Bristol Triplex: Income and Character

      Spacious three-family property in Bristol with income potential.
      37 Lincoln Avenue, Bristol, RI 02809
      View Details
    • $779,000
      2,359 SF

      Mint Condition Two-Family House

      Two-family house in Bristol, RI, near town, renovated in 2008.
      31 Garfield Avenue, Bristol, RI 02809
      View Details
    • $550,000
      2,100 SF

      Mixed-Use Property in Bristol, RI

      Mixed-use property with commercial space and residential apartment.
      366 Wood Street, Bristol, RI 02809
      View Details
    • $1,750,000
      3,338 SF

      Downtown Bristol Multifamily Investment Opportunity

      Turn-key homes in downtown Bristol near shops and waterfront.
      88 Burton Street, Bristol, RI 02809
      View Details
    • $875,000
      2,081 SF

      Restaurant and Home For Sale

      Restaurant and single family home package in Bristol, RI.
      170 Franklin Street, Bristol, RI 02809
      View Details
    • $875,000
      1,440 SF

      Turnkey Home and Thriving Restaurant

      Single-family home with established neighborhood restaurant in Bristol, RI.
      2 Wilson Street, Bristol, RI 02809
      View Details
    • $649,900
      1,926 SF

      Downtown Bristol Retail/Office Opportunity

      1,526 SF unit in historic downtown Bristol, Rhode Island.
      423 Hope #21U, Bristol, RI 02809
      View Details
    • $1,995,000
      6,516 SF

      Waterfront District Mixed-Use Building

      Three-unit building in high-traffic area with waterfront views.
      382 Thames, Bristol, RI 02809
      View Details
    • $337,500
      6,000 SF

      Modern Flex Space in Bristol

      Commercial park with flexible spaces for tradesmen, artisans, craftsmen.
      75 Tupelo St, Bristol, RI
      View Details
    • $1,695,000
      6,516 SF

      Waterfront Commercial Building in Bristol

      Three-unit commercial building in Bristol's Waterfront District.
      382 Thames Street, Bristol, RI 02809
      View Details
    • $3,250,000
      23,000 SF

      Bristol Restaurant with Banquet Rooms

      Upscale dining restaurant with banquet rooms and parking.
      383 Metacom, Bristol, RI 02809
      View Details
    • $1,995,000
      2,500 SF

      Waterfront District Investment Opportunity

      Free-standing building with three units in a high-traffic downtown location.
      382 Thames St, Bristol, RI, 02809-1932
      View Details

    FAQs

    What type of property is this?
    Storefront property - Historic downtown Bristol location ideal for retail or office use.
    Where is this storefront property located?
    The property is located at 423 Hope #21U Bristol, RI.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: Prime location in historic downtown Bristol, RI with excellent highway access and visibility.; Versatile 1,526 SF first‑floor unit suitable for office, retail, or service business.; Features include hardwood flooring, beautiful lighting, and a custom built‑in island.
    (508) 676-8500
    We can help!
    Listing Contact
    Kelley Collins
    Kelley Collins
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    423 Hope #21U, Bristol, RI 02809
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!