Renovated Building in Prime
For Sale
$599,900
5-75 Division Rd, West Greenwich, RI 02817
Recently renovated building with high traffic and development potential.
Property Size3,108 SF
Price / SF$193.02
Days on Market227
Property Features for 5-75 Division Rd
General Information
Standard status
Active
Size
3,108 SF
Taxes and HOA fees
Annual Taxes
$12,930
Listing Agency:
BHHS Commonwealth Real Estate
(401) 742-6050
Listed By:
Allen Gammons · License #REB.0015256
(401) 742-6050
Source:
Exprealty
Added: Jan 14
Changed: Aug 28
Last Checked: Aug 29 at 12:53PM
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 BHHS Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This recently renovated 3,108 square foot building is located on the corner of Division Road and New London Turnpike. The property is situated near the new State Police Headquarters currently under construction, the Center of New England with over 1000 residential units, Home Depot, BJ's, retail spaces, restaurants, and two hotels. It is also located near a park and ride lot for commuters and 200 yards from the I-95 exit. The property is across the street from the entrance to a bike path and the parking lot for Big River Management Area. The previous use was an ice cream seasonal business, but the property could be suitable as a coffee or sandwich shop. The building features a renovated one-bedroom luxury apartment and a second-floor three-room office, which might have potential for another rental or apartment. The property is located in an area with high traffic and growing daily.
Key Highlights
- High‑traffic location at the corner of Division Road and New London Turnpike, near I‑95 exit.
- Close proximity to major developments including the new State Police Headquarters and the Center of New England (1000+ residential units).
- Recently renovated building with a one‑bedroom luxury apartment.**
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
$54,489
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
9.08%
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%
$1,089,780
$1.1M
Cap Rate 7%
$778,414
$778.4K
Cap Rate 9%
$605,433
$605.4K
Market Conditions
NOI Build-Up for 3,108 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
$74.6K $24.00/SF
− Vacancy
−$1.9K −$0.62/SF
EGI
$72.7K $23.38/SF
− OpEx
−$18.2K −$5.84/SF
NOI
$54.5K $17.53/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$24.00 /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%
$1,089,780
Cap Rate 7%
$778,414
Cap Rate 9%
$605,433
Alternative Uses
Best Use
Specialty Retail
$778.4K
$681.1K – $908.2K
NOI $54,489 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
1k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Residence Inn Providence Coventry
Hotels & Casinos
1,291 visits/mo
0.5 miles
Demographics for 02817, RI
6,528
Population
2,509
Households
2.6
Avg Household Size
46
Median Age
35%
College-Educated
91%
High-School Grad
50.3 sq mi
ZIP Area
130
Density / Sq Mi
$137,485
Median Household Income
$64,676
Median Earnings
$1,977
Median Rent
$500,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- BlackStone Herbs & Martini Bar — 710 Centre of New England Blvd, Coventry, RI 02816
Frequently Asked Questions
What type of property is this?
Coffee shop - Recently renovated building with high traffic and development potential.
Where is this coffee shop located?
The property is located at 5-75 Division Rd West Greenwich, RI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: High‑traffic location at the corner of Division Road and New London Turnpike, near I‑95 exit.; Close proximity to major developments including the new State Police Headquarters and the Center of New England (1000+ residential units).; Recently renovated building with a one‑bedroom luxury apartment.**
