Three-Building Mixed-Use
For Sale
$9,600,000
567 S County Trail, Exeter, RI 02822
Retail, restaurant, service, and residential components support a varied income profile.
Property Size53,493 SF
Price / SF$179.46
Days on Market49
Property Features for 567 S County Trail
General Information
Standard status
Active
Size
53,493 SF
Property subtype
Vacant-User
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
5
Amenities
Dominant neighborhood shopping center located on one of the region's primary commercial corridors
Historically strong occupancy supported by a limited supply of competing retail space in the immediate trade area
Diversified, service-oriented tenant mix provides insulation from e-commerce disruption and an exceptionally stable income stream
Healthy annual rent increases create an annual appreciation in cash flow and value
Exceptionally maintained property priced well below replacement cost
Foundation for a 4th building in place, which Seller will retain the right to develop and lease back from Purchaser
More than $880,000 in recent capital improvements completed, significantly enhancing the property's physical condition while eliminating near-term capital expenditure requirements for a new owner
Building Details
Building Size
53,493 SF
Year Built
2005
Buildings
3
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Boston
Listed By:
Adam Cohen · License #License(s): MA: 9551336
(617) 896-7243
Source:
Marcusmillichap
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 28 at 6:02AM
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 Marcus & Millichap - Boston
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Investment Insights
Based on property information with market context.
Oak Harbor Village Square comprises three commercial buildings totaling 53,493 square feet at 567 South County Trail in Exeter, Rhode Island. The property includes retail, restaurant, and service-oriented commercial space along with five residential apartments. Smaller commercial suites accommodate a range of business formats, while on-site parking supports customer access across the property.
The property fronts Route 2 and provides access to Route 102 and Interstate 95. Its tenant roster spans restaurants and cafés, childcare, fitness, beauty, professional services, pet-oriented businesses, and other destination uses. Several leases provide scheduled rent increases, with many calling for annual increases of approximately 3%.
The property fronts Route 2 and provides access to Route 102 and Interstate 95. Its tenant roster spans restaurants and cafés, childcare, fitness, beauty, professional services, pet-oriented businesses, and other destination uses. Several leases provide scheduled rent increases, with many calling for annual increases of approximately 3%.
Key Highlights
- 53,493‑square‑foot mixed‑use property comprising three commercial buildings
- Five residential apartments add a residential component to the commercial asset
- Located at 567 South County Trail in Exeter, Rhode Island
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$563,068
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,261,360
$11.3M
Cap Rate 7%
$8,043,829
$8.0M
Cap Rate 9%
$6,256,311
$6.3M
Market Conditions
NOI Build-Up for 53,493 SF
Gross rent
$1.07M $20.04/SF
− Vacancy
−$48.2K −$0.90/SF
EGI
$1.02M $19.14/SF
− OpEx
−$460.7K −$8.61/SF
NOI
$563.1K $10.53/SF
Area
Washington County, RI
Vacancy
4.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,261,360
Cap Rate 7%
$8,043,829
Cap Rate 9%
$6,256,311
Alternative Uses
Best Use
Apartment 5plus
$8.04M
$7.04M – $9.38M
NOI $563,068 @ 7.0% cap · market cap 5.87%
Second Best
Retail
$7.75M
$6.78M – $9.04M
NOI $542,391 @ 7.0% cap · market cap 5.65%
Theoretical Best
Healthcare Medical
$10.69M
$9.35M – $12.47M
NOI $748,153 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
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Business Placement
Demographics for 02822, RI
5,960
Population
2,084
Households
2.9
Avg Household Size
48
Median Age
42%
College-Educated
86%
High-School Grad
54.4 sq mi
ZIP Area
110
Density / Sq Mi
$87,185
Median Household Income
$38,404
Median Earnings
$1,128
Median Rent
$469,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail, restaurant, service, and residential components support a varied income profile.
Where is this mixed-use property located?
The property is located at 567 S County Trail Exeter, RI.
What is the asking price?
The asking price for this property is $9,600,000.
What are key features of this property?
This property features: 53,493‑square‑foot mixed‑use property comprising three commercial buildings; Five residential apartments add a residential component to the commercial asset; Located at 567 South County Trail in Exeter, Rhode Island
