Cannabis Property with Loading
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For Sale
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49 MECHANIC ST, Hope Valley, RI 02832
M-zoned property with climate control, upgraded electrical service, and a wooded setting along the Wood River.
Property Size19,420 SF
Price / SF$51.24
Days on Market4
Property Features for 49 MECHANIC ST
General Information
Standard status
Active
Size
19,420 SF
Class
C
Total Parking Spaces
100
Property subtype
Industrial, Land
Zoning
M
Investment Type
Value Add
Building Details
Year Built
1920
Year Renovated
2025
Buildings
1
Stories
1
Units
1
Listing Agency:
Ri Real Estate Services
Listed By:
Michael Russo · License #REB.0017244
(401) 885-5400
Source:
Crexi
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 2 at 4:09PM
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 Ri Real Estate Services
Investment Insights
Based on property information with market context.
This cannabis property comprises more than 9 acres and includes a commercial building with climate-control equipment, upgraded electrical service, two loading docks, and two ground-level doors. The improvements were most recently used as a cultivation facility, and the property includes a septic system described as young. Construction dates to 1920.
The parcel sits near I-95 in Hope Valley, with the Wood River forming its eastern and southern boundaries. M zoning supports the property’s industrial classification, while expansion plans are available for review. The existing building and site infrastructure provide a substantial base for continued cannabis-related use or other uses permitted by applicable regulations.
The parcel sits near I-95 in Hope Valley, with the Wood River forming its eastern and southern boundaries. M zoning supports the property’s industrial classification, while expansion plans are available for review. The existing building and site infrastructure provide a substantial base for continued cannabis-related use or other uses permitted by applicable regulations.
Key Highlights
- More than 9 acres near I‑95 in Hope Valley
- Commercial building with 2 loading docks and 2 ground‑level doors
- Most recently used as a cultivation facility
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
$90,876
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
9.13%
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%
$1,817,520
$1.8M
Cap Rate 7%
$1,298,229
$1.3M
Cap Rate 9%
$1,009,733
$1.0M
Market Conditions
NOI Build-Up for 19,420 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
$135.9K $7.00/SF
− Vacancy
−$6.1K −$0.32/SF
EGI
$129.8K $6.69/SF
− OpEx
−$38.9K −$2.01/SF
NOI
$90.9K $4.68/SF
Area
Washington County, RI
Vacancy
4.50%
Lease Rate
$7.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,817,520
Cap Rate 7%
$1,298,229
Cap Rate 9%
$1,009,733
Alternative Uses
Best Use
Industrial
$1.30M
$1.14M – $1.51M
NOI $90,876 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.88M
$3.40M – $4.53M
NOI $271,608 @ 7.0% cap · market cap 27.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 02832, RI
4,887
Population
2,170
Households
2.3
Avg Household Size
47
Median Age
36%
College-Educated
91%
High-School Grad
24.8 sq mi
ZIP Area
197
Density / Sq Mi
$101,225
Median Household Income
$46,394
Median Earnings
$1,114
Median Rent
$391,100
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Cannabis property - M-zoned property with climate control, upgraded electrical service, and a wooded setting along the Wood River.
Where is this cannabis property located?
The property is located at 49 MECHANIC ST Hope Valley, RI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: More than 9 acres near I‑95 in Hope Valley; Commercial building with 2 loading docks and 2 ground‑level doors; Most recently used as a cultivation facility
