Two-Building Retail
For Sale
Contact for pricing
500 Main Rd, Tiverton, RI 02878
Two single-tenant buildings are leased to CVS and Sakonnet River Grille with renewal options extending beyond current terms.
Property Size17,950 SF
Lot Size3.34 Acres
Price / SF$443.03
Days on Market182
Property Features for 500 Main Rd
General Information
Standard status
Active
Size
17,950 SF
Lot size
3.34 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$596,432
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Buildings
2
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Horvath & Tremblay
Listed By:
Bob Horvath · License #CT 756500
Source:
Crexi
Added: Apr 16
Changed: Sep 29
Last Checked: Oct 12 at 8:55PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
The property consists of two single-tenant retail buildings totaling 17,950 square feet on a 3.34-acre corner parcel. CVS occupies one building and has 13+ years remaining on its lease, along with five 5-year renewal options. Sakonnet River Grille has operated at the property since 2022 and has 6+ years remaining on its lease, plus one 5-year renewal option. Both leases include additional rent increases during specified lease periods.
The property is positioned at Briarwood Avenue and Main Road, also designated RI Route 138, in Tiverton’s North End commercial and commuter corridor. It is adjacent to Tom’s Market and Dunkin’, 1.5 miles from the Fall River Expressway via RI Route 24, and 3.5 miles from Downtown Fall River and Bally’s Tiverton.
The property is positioned at Briarwood Avenue and Main Road, also designated RI Route 138, in Tiverton’s North End commercial and commuter corridor. It is adjacent to Tom’s Market and Dunkin’, 1.5 miles from the Fall River Expressway via RI Route 24, and 3.5 miles from Downtown Fall River and Bally’s Tiverton.
Key Highlights
- 3.34‑acre corner parcel with two single‑tenant retail buildings
- 17,950 square feet of total building area
- CVS lease has 13+ years remaining and five 5‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$260,548
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,210,960
$5.2M
Cap Rate 7%
$3,722,114
$3.7M
Cap Rate 9%
$2,894,978
$2.9M
Market Conditions
NOI Build-Up for 17,950 SF
Gross rent
$387.7K $21.60/SF
− Vacancy
−$40.3K −$2.25/SF
EGI
$347.4K $19.35/SF
− OpEx
−$86.8K −$4.84/SF
NOI
$260.5K $14.52/SF
Area
Newport County, RI
Vacancy
10.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,210,960
Cap Rate 7%
$3,722,114
Cap Rate 9%
$2,894,978
Alternative Uses
Best Use
Specialty Retail
$3.72M
$3.26M – $4.34M
NOI $260,548 @ 7.0% cap · market cap 3.28%
Second Best
Retail
$2.89M
$2.53M – $3.38M
NOI $202,535 @ 7.0% cap · market cap 2.55%
Theoretical Best
Multifamily LT 5
$4.28M
$3.75M – $5.00M
NOI $299,804 @ 7.0% cap · market cap 3.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 42%
Dollar General
Shops & Services
9,459 visits/mo
0.1 miles
Dunkin' Donuts
Dining
6,732 visits/mo
0.1 miles
Demographics for 02878, RI
16,359
Population
7,747
Households
2.1
Avg Household Size
50
Median Age
40%
College-Educated
93%
High-School Grad
29.1 sq mi
ZIP Area
562
Density / Sq Mi
$99,542
Median Household Income
$49,228
Median Earnings
$1,228
Median Rent
$367,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Two single-tenant buildings are leased to CVS and Sakonnet River Grille with renewal options extending beyond current terms.
Where is this retail space located?
The property is located at 500 Main Rd Tiverton, RI.
What is the asking price?
The asking price for this property is $7,952,426.
What are key features of this property?
This property features: 3.34‑acre corner parcel with two single‑tenant retail buildings; 17,950 square feet of total building area; CVS lease has 13+ years remaining and five 5‑year renewal options
