Renovated Building in Prime
5-75 Division Rd West Greenwich, RI 02817
5-75 Division Rd, West Greenwich, RI, 02817
$599,900
For Sale
$599,900
Recently renovated building with high traffic and development potential.
Property Size3,108 SF
Price / SF$193.02
Days on Market186
Property Features for 5-75 Division Rd
General Information
- Standard status
- Active
- Size
- 3,108 SF
Listing Agency
BHHS Commonwealth Real Estate
(401) 742-6050
Listed by
Allen Gammons
(401) 742-6050
Source
Exprealty
Added: Jan 14 Checked: Jul 18 at 9:15 pm
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.
Local Financial Insights For Specialty Retail
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 | $74.6k | $24.00 |
| − Vacancy | −$1.9k | −$0.62 |
| EGI | $72.7k | $23.38 |
| − OpEx | −$18.2k | −$5.84 |
| NOI | $54.5k | $17.53 |
3,108 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Coffee shops
Similar For Sale Nearby
Similar Off Market Nearby
- BlackStone Herbs & Martini Bar — 710 Centre of New England Blvd, Coventry, RI 02816
FAQs
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.**
