Two-Building Mixed-Use
New
For Sale
$899,999
732 High St, Cumberland, RI 02864
Residential units and an operating food market occupy separate freestanding buildings with shared parking and laundry amenities.
Property Size4,584 SF
Lot Size0.23 Acres
Price / SF$196.33
Days on Market2
Property Features for 732 High St
General Information
Standard status
Active
Size
4,584 SF
Lot size
0.23 Acres
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Parking per Unit
1
Amenities
coin-op laundry
Building Details
Year Built
1930
Buildings
2
Listing Agency:
Dandurand Real Estate
Listed By:
Team Dandurand
(401) 529-3131
Source:
Seaveyrealtyteam
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:18AM
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 Dandurand Real Estate
Investment Insights
Based on property information with market context.
This mixed-use package includes a freestanding residential building with three units, each offering two bedrooms, a bathroom, living room, and an appliance-equipped kitchen. Assigned parking is provided, and the basement contains coin-operated laundry equipment. All three units are occupied by long-term tenants who pay their own utilities.
The second freestanding building is a one-level commercial property currently operating as an established food market. It contains 1723 sq ft, has modern construction, and includes ample parking. The residential building contains 3786 sq ft. Both buildings share a 10.000 SQ FOOT lot and are offered together as one package at 732 High St, Cumberland, RI 02864.
The second freestanding building is a one-level commercial property currently operating as an established food market. It contains 1723 sq ft, has modern construction, and includes ample parking. The residential building contains 3786 sq ft. Both buildings share a 10.000 SQ FOOT lot and are offered together as one package at 732 High St, Cumberland, RI 02864.
Key Highlights
- Two‑building mixed‑use package offered for sale only as a combined property
- Three residential units, each with 2 bedrooms, bathroom, living room, and appliance‑equipped kitchen
- Residential building contains 3786 sq ft and includes assigned parking plus basement coin‑operated laundry
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
$76,326
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
8.48%
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%
$1,526,520
$1.5M
Cap Rate 7%
$1,090,371
$1.1M
Cap Rate 9%
$848,067
$848.1K
Market Conditions
NOI Build-Up for 4,584 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
$116.6K $25.44/SF
− Vacancy
−$7.6K −$1.65/SF
EGI
$109.0K $23.79/SF
− OpEx
−$32.7K −$7.14/SF
NOI
$76.3K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
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%
$1,526,520
Cap Rate 7%
$1,090,371
Cap Rate 9%
$848,067
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$954.1K – $1.27M
NOI $76,326 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$865.4K
$757.2K – $1.01M
NOI $60,575 @ 7.0% cap · market cap 6.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential units and an operating food market occupy separate freestanding buildings with shared parking and laundry amenities.
Where is this mixed-use property located?
The property is located at 732 High St Cumberland, RI.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Two‑building mixed‑use package offered for sale only as a combined property; Three residential units, each with 2 bedrooms, bathroom, living room, and appliance‑equipped kitchen; Residential building contains 3786 sq ft and includes assigned parking plus basement coin‑operated laundry
