Mixed-Use Property with Heated
For Sale
$599,000
5555 Post Rd, East Greenwich, RI 02818
Office, residential, and workshop components create a flexible mixed-use configuration with separate rental possibilities.
Property Size3,228 SF
Price / SF$185.56
Days on Market79
Property Features for 5555 Post Rd
General Information
Standard status
Active
Size
3,228 SF
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Office Units
1
Additional Details
Floor
First Floor
Road Access
Yes
Building Details
Year Built
1950
Buildings
2
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
BHHS Commonwealth Real Estate
Listed By:
Allen Gammons · License #REB.0015256
(508) 810-0700
Source:
Alpernandmesenbourg
Added: Jul 28
Changed: Oct 2
Last Checked: Oct 7 at 5:33PM
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 mixed-use property contains a first-floor private-entry office with a working basement shop, exterior access, and an employee bathroom. The basement has served as workshop and parts-storage space, while the office is currently occupied by a local plumbing company. The owner may vacate or consider a leaseback arrangement for these areas. Recent renovations have updated the property, which was built in 1950 and measures 3,228 square feet.
Two fully renovated one-bedroom apartments add residential income potential and have an established rental history. A newer heated barn/garage with its own bathroom provides additional business or vehicle-oriented space and may be rented separately, subject to use restrictions. The property offers visibility from Rt. 1, signage along the route, and access from Post Road a short distance from Main Street in East Greenwich.
Two fully renovated one-bedroom apartments add residential income potential and have an established rental history. A newer heated barn/garage with its own bathroom provides additional business or vehicle-oriented space and may be rented separately, subject to use restrictions. The property offers visibility from Rt. 1, signage along the route, and access from Post Road a short distance from Main Street in East Greenwich.
Key Highlights
- 3,228‑square‑foot mixed‑use property built in 1950
- First‑floor office with private entry and working basement shop
- Basement includes external access and an employee bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,088
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$861,760
$861.8K
Cap Rate 7%
$615,543
$615.5K
Cap Rate 9%
$478,756
$478.8K
Market Conditions
NOI Build-Up for 3,228 SF
Gross rent
$84.1K $26.04/SF
− Vacancy
−$5.7K −$1.77/SF
EGI
$78.3K $24.27/SF
− OpEx
−$35.3K −$10.92/SF
NOI
$43.1K $13.35/SF
Area
Kent County, RI
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$861,760
Cap Rate 7%
$615,543
Cap Rate 9%
$478,756
Alternative Uses
Best Use
Apartment 5plus
$615.5K
$538.6K – $718.1K
NOI $43,088 @ 7.0% cap · market cap 7.19%
Second Best
Mixed Use
$569.6K
$498.4K – $664.6K
NOI $39,874 @ 7.0% cap · market cap 6.66%
Theoretical Best
Specialty Retail
$808.5K
$707.4K – $943.2K
NOI $56,593 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
542
Businesses Nearby
Explore this area
Business Placement
Demographics for 02818, RI
19,907
Population
8,623
Households
2.3
Avg Household Size
45
Median Age
63%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
939
Density / Sq Mi
$120,952
Median Household Income
$72,985
Median Earnings
$1,384
Median Rent
$564,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office, residential, and workshop components create a flexible mixed-use configuration with separate rental possibilities.
Where is this mixed-use property located?
The property is located at 5555 Post Rd East Greenwich, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3,228‑square‑foot mixed‑use property built in 1950; First‑floor office with private entry and working basement shop; Basement includes external access and an employee bathroom
