Three-Unit Retail
5 FORBES ST Riverside, RI 02915
5 FORBES ST, Riverside, RI, 02915
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For Sale
Contact for pricing
Three-unit retail property with parking and frontage; two tenants remain, seller vacates at closing.
Property Size6,701 SF
Price / SF$134.31
Days on Market51
Property Features for 5 FORBES ST
General Information
- Standard status
- Active
- Size
- 6,701 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1960
Listing Agency
Elite Commercial Realty
(401) 479-6233
Listed by
Robert Fox · License #RES.0045429
Source
Crexi
Added: May 29 Checked: Jul 17 at 11:36 am
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 Elite Commercial Realty
Investment Insights
Based on property information with market context.
5 Forbes Street is a 3-unit retail property configured for flexible tenant uses. The seller will vacate at closing, leaving available space for an owner-user or a new mix of tenants, while two tenants will remain in place. The property totals 6,701 square feet and is offered for sale as a multi-tenant asset.
The building is positioned for storefront activity with street frontage and parking, as described in the seller’s remarks. It is located in Riverside, Rhode Island, with access to Providence and surrounding communities also noted in the marketing materials.
For prospective tenants, the available unit(s) can support a range of neighborhood-oriented concepts, including retail, restaurant, café, office, or service use, depending on lease structure and final configuration. Investors and owner-users can evaluate the remaining tenancy and the seller’s move-out to plan for either continued multi-tenant operations or a repositioning strategy. This combination of in-place tenants and near-term availability can simplify planning around occupancy timing and future space programming.
The building is positioned for storefront activity with street frontage and parking, as described in the seller’s remarks. It is located in Riverside, Rhode Island, with access to Providence and surrounding communities also noted in the marketing materials.
For prospective tenants, the available unit(s) can support a range of neighborhood-oriented concepts, including retail, restaurant, café, office, or service use, depending on lease structure and final configuration. Investors and owner-users can evaluate the remaining tenancy and the seller’s move-out to plan for either continued multi-tenant operations or a repositioning strategy. This combination of in-place tenants and near-term availability can simplify planning around occupancy timing and future space programming.
Key Highlights
- 3‑unit retail property in Riverside, RI (built 1960)
- Two tenants will remain in place; seller will vacate at closing
- Available space suitable for retail, restaurant, café, office, or service use
Local Financial Insights For 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 | $120.6k | $18.00 |
| − Vacancy | −$12.5k | −$1.87 |
| EGI | $108.1k | $16.13 |
| − OpEx | −$32.4k | −$4.84 |
| NOI | $75.7k | $11.29 |
6,701 SF · lease $18.00/SF/yr · vacancy 10.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.08M
$945.7K – $1.26M
NOI $75,652 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.59M
$1.39M – $1.86M
NOI $111,575 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Evolve Performance Fitness ...
Gym & Fitness Center
Cedar House Design ...
Interior Design
Pickle & Board Interiors
Interior Design
FAQs
What type of property is this?
Retail space - Three-unit retail property with parking and frontage; two tenants remain, seller vacates at closing.
Where is this retail space located?
The property is located at 5 FORBES ST Riverside, RI.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: 3‑unit retail property in Riverside, RI (built 1960); Two tenants will remain in place; seller will vacate at closing; Available space suitable for retail, restaurant, café, office, or service use
