Building Details

Building Size 3,223 SF

Year Built 1949

Buildings 1

Listed By: Stephen Rose Show Phone

Source: Milestonerealtyinc

Added: May 15 Changed: Oct 7 Last Checked: Oct 7 at 9:30AM

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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 Stephen Rose

Investment Insights

Based on property information with market context.

This is a fully functional restaurant located in Lincoln, Rhode Island. The property includes a liquor license and real estate. The building has 3,223 square feet of space. All furniture, fixtures, and equipment (FF&E) are included with the sale.

Key Highlights

• Fully functional restaurant ready for a new owner.
• Includes real estate, a valuable asset.
• Liquor license included, a significant advantage.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,038

Cap Rate

4.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$780,760 $780.8K

Cap Rate 7%

$557,686 $557.7K

Cap Rate 9%

$433,756 $433.8K

Market Conditions

NOI Build-Up for 3,223 SF

Gross rent

$58.0K $18.00/SF

− Vacancy

−$6.0K −$1.85/SF

EGI

$52.1K $16.15/SF

− OpEx

−$13.0K −$4.04/SF

NOI

$39.0K $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 Rate 5%

$780,760

Cap Rate 7%

$557,686

Cap Rate 9%

$433,756

Alternative Uses

Best Use

Specialty Retail

$557.7K

$488.0K – $650.6K (±1% cap)

NOI $39,038 @ 7.0% cap · market cap 4.88%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$766.6K

$670.8K – $894.4K (±1% cap)

NOI $53,664 @ 7.0% cap · market cap 6.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Miller's Tavern Bar & Pub

Suggested Use

Top Pick Auto Repair Shop Restaurant Law Firm Building Supply Big Box & Wholesale Store Hair Salon

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

101

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 02802, RI

814

Population

384

Households

2.1

Avg Household Size

52

Median Age

52%

College-Educated

100%

High-School Grad

0.2 sq mi

ZIP Area

4,070

Density / Sq Mi

$125,522

Median Household Income

$67,308

Median Earnings

$271,000

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 conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Fully functional restaurant with real estate and all FF&E.

Where is this conventional restaurant located?

The property is located at 48 School Street Lincoln Albion, RI.

What is the asking price?

The asking price for this property is $799,900.

What are key features of this property?

This property features: Fully functional restaurant ready for a new owner.; Includes real estate, a valuable asset.; Liquor license included, a significant advantage.