Three-Building Mixed-Use
New
For Sale
Contact for pricing
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 Market6
Property Features for 567 S County Trail
General Information
Standard status
Active
Size
53,493 SF
Property subtype
Retail, Multifamily, Mixed Use
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
5
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Boston
Listed By:
Adam Cohen · License #MA 9551336
(617) 896-7200
Source:
Crexi
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 13 at 7:48AM
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
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 = 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
$563,068
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
5.87%
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%
$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
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
$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 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%
$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.
Property Analytics
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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
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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
