Mixed-Use Property with Renovated
For Sale
$599,000
5555 Post Road, East Greenwich, RI 02818
Mixed-use property featuring office space and renovated apartments.
Property Size3,228 SF
Days on Market121
Property Features for 5555 Post Road
General Information
Standard status
Active
Size
3,228 SF
Total Parking Spaces
14
Property subtype
Commercial
Building Details
Building Size
3,228 SF
Year Built
1950
Buildings
2
Units
3
Listing Agency:
BHHS Commonwealth Real Estate
(401) 742-6050
Listed By:
Allen Gammons · License #8574
(401) 742-6050
Source:
Liongatere
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 21 at 2:17PM
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 unique mixed-use property, formerly a medical office and currently utilized as a corporate office for a local plumbing company, presents a versatile opportunity. The first-floor office includes a working basement shop with external access and a bathroom. The current owner is willing to vacate or consider a leaseback of the office space and basement. The property offers fantastic visibility from its first-floor private entry office, located a short distance off Main Street on Post Road. It is suitable for a small law office, a nail salon, or a starting business, with signage available along Route 1. Recent renovations enhance its appeal. The property also features two fully renovated one-bedroom apartments with a strong rental history. A newer, large barn/garage with heat and a bathroom has recently been built on-site and can be rented separately for a business or car enthusiast, subject to some restrictions.
Key Highlights
- Mixed‑use property featuring commercial office space and two renovated one‑bedroom apartments.
- High visibility location on Post Road with prominent signage along Rt. 1.
- Newer, large, heated barn/garage with bathroom, suitable for business or car enthusiast (restrictions apply).
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
$39,874
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
6.66%
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%
$797,480
$797.5K
Cap Rate 7%
$569,629
$569.6K
Cap Rate 9%
$443,044
$443.0K
Market Conditions
NOI Build-Up for 3,228 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
$70.9K $21.96/SF
− Vacancy
−$7.1K −$2.20/SF
EGI
$63.8K $19.76/SF
− OpEx
−$23.9K −$7.41/SF
NOI
$39.9K $12.35/SF
Area
Kent County, RI
Vacancy
10.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
37.50%
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%
$797,480
Cap Rate 7%
$569,629
Cap Rate 9%
$443,044
Alternative Uses
Best Use
Mixed Use
$569.6K
$498.4K – $664.6K
NOI $39,874 @ 7.0% cap · market cap 6.66%
Second Best
Office B
$566.3K
$495.5K – $660.7K
NOI $39,641 @ 7.0% cap · market cap 6.62%
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.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring office space and renovated apartments.
Where is this mixed-use property located?
The property is located at 5555 Post Road 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: Mixed‑use property featuring commercial office space and two renovated one‑bedroom apartments.; High visibility location on Post Road with prominent signage along Rt. 1.; Newer, large, heated barn/garage with bathroom, suitable for business or car enthusiast (restrictions apply).
