East Greenwich Commercial Space For
61 Cedar #3 East Greenwich, RI 02818
61 Cedar #3, East Greenwich, RI, 02818
$329,900
For Sale
$329,900
Commercial space in East Greenwich with high ceilings and visibility.
Property Size1,380 SF
Price / SF$239.06
Days on Market162
Property Features for 61 Cedar #3
General Information
- Standard status
- Active
- Size
- 1,380 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1925
Listing Agency
WEICHERT REALTORS-CRESS & CO.
(401) 885-2990
Listed by
ROBERT CRESSMAN
Source
Corcoran
Added: Feb 4 Checked: Jul 16 at 6:17 am
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 WEICHERT REALTORS-CRESS & CO.
Investment Insights
Based on property information with market context.
Located in East Greenwich on Cedar Avenue near Post Road, this commercial space offers an open layout with high ceilings. The unit is situated in Steeple Street Office Park and features front visibility. It is suitable for offices, a studio, an art gallery, or other business concepts. The property includes central air conditioning, a half bath, gas heat, and parking lots. The unit has a size of 1380 square feet.
Key Highlights
- Great location in East Greenwich near Post Road.
- Wide open space with high ceilings.
- Front visibility in Steeple Street Office Park.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.5k | $20.64 |
| − Vacancy | −$5.9k | −$4.27 |
| EGI | $22.6k | $16.37 |
| − OpEx | −$5.6k | −$4.09 |
| NOI | $16.9k | $12.28 |
1,380 SF · lease $20.64/SF/yr · vacancy 20.67% · expense 25.00%
Alternative Uses
Best Use
Office B
$242.1K
$211.8K – $282.5K
NOI $16,947 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$345.6K
$302.4K – $403.2K
NOI $24,194 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Commercial space in East Greenwich with high ceilings and visibility.
Where is this office units located?
The property is located at 61 Cedar #3 East Greenwich, RI.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Great location in East Greenwich near Post Road.; Wide open space with high ceilings.; Front visibility in Steeple Street Office Park.
