Mixed-Use Property With Heated
For Sale
$599,000
Pending
5555 Post Road, East Greenwich, RI 02818
Commercial/Business,Commercial Sale, East Greenwich, RI
Property Size3,228 SF
Lot Size0.27 Acres
Days on Market125
Property Features for 5555 Post Road
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
14
Interior features
Ceiling Height (7 to 9 Ft)
Basement
Full
Lot features
Corner, Free Standing, Urban
Standard status
Pending
Size
3,228 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Heating system
Natural Gas, Baseboard
Cooling system
Ductless, Central Air
Building Details
Year built
1950
Floors in Building
1
Number of units
3
Building materials
Frame
Listing Agency:
Bhhs Commonwealth Real Estate · Berkshire Hathaway HomeServices
(401) 886-6100
Listed By:
Allen Gammons · License #8574
(401) 742-6050
Added: Apr 24
Changed: Aug 19
Last Checked: Aug 26 at 5:06AM
MLS# 1410925
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a first-floor private-entry office with a basement workshop that has exterior access and an employee bathroom. The basement has been used for workshop and parts-storage functions. A heated barn/garage with its own bathroom was recently added and may be rented separately for business or automotive use, subject to restrictions. The office user may vacate or pursue a leaseback arrangement.
The property also includes two renovated one-bedroom apartments with an established rental history. Recent improvements extend across the residential and commercial components. Positioned on Post Road near Main Street, the site offers visibility from Route 1 and supports prominent signage. The 3,228-square-foot building dates to 1950 and occupies 0.2662 acres.
The property also includes two renovated one-bedroom apartments with an established rental history. Recent improvements extend across the residential and commercial components. Positioned on Post Road near Main Street, the site offers visibility from Route 1 and supports prominent signage. The 3,228-square-foot building dates to 1950 and occupies 0.2662 acres.
Key Highlights
- 3,228‑square‑foot mixed‑use property on 0.2662 acres
- First‑floor private‑entry office with basement workshop, exterior access, and employee bathroom
- Two renovated one‑bedroom apartments with strong rental history
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
$43,088
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
7.19%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
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 - Renovated office, apartments, basement workspace, and a separate barn-style garage support multiple commercial and residential components.
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: 3,228‑square‑foot mixed‑use property on 0.2662 acres; First‑floor private‑entry office with basement workshop, exterior access, and employee bathroom; Two renovated one‑bedroom apartments with strong rental history
