499 E Main Rd, Middletown, RI
Two buildings with office, restaurant space, and apartment conversion potential.
- Added:
- Apr 7, 2025
- Days on Market:
- 433
- Last Refresh:
- May 19 at 8:33 pm
Property Features for 499 E Main Rd
General Information
- Standard status
- Active
- Size
- 15,000 SF
- Lot size
- 1.19 Acres
- Property subtype
- OFFICE
Listing agent Matthew Fair
Listing office Hayes & Sherry (401) 273-1980
Listing date Apr 7, 2025
Source Moodyscre
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All listing content including descriptions, pricing, images are the copyrighted material of Hayes & Sherry
HighLights
- The Grange was fully renovated in 2020 with all new mechanical infrastructure.
- The property is comprised of two buildings.
- The Grange is currently built‑out with a mix of office and restaurant space.
- The Barn has an application submitted for conversion to eight apartments.
- The Barn is currently used as storage.
- The Barn is unfinished.
Overview
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $435.6k | $29.04 |
| − Vacancy | −$30.5k | −$2.03 |
| EGI | $405.1k | $27.01 |
| − OpEx | −$182.3k | −$12.15 |
| NOI | $222.8k | $14.85 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Middletown
- County
- Newport
- State
- Rhode Island
- Longitude
- -71.2842
- Latitude
- 41.521
