Mixed-Use Property with Water
742 Hope Street, Bristol, RI 02809
For Sale
$1,890,000
GB-zoned property with an existing diner and three-family residence across from Narragansett Bay.
Property Size3,619 SF
Lot Size0.50 Acres
Price / SF$522.24
Days on Market54
Property Features for 742 Hope Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Property Condition
Severity
Evidence
Additional Details
Road Access
Land Use
Building Details
Year Built
Listing Agency:
Link Real Estate
Listed By:
Tracy LeRoux · License #REB.0018155
(401) 289-2600
Source:
Lockandkeyre
Added: Sep 15
Changed: Nov 6
Last Checked: Nov 6 at 9:25AM
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 Link Real Estate
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Investment Insights
Based on property information with market context.
This mixed-use property combines an existing diner with a late-1800s Victorian-style three-family residence on approximately 21,930 square feet of land. The residential structure dates to 1880 and sustained significant third-floor fire damage in June 2025. The property is offered as-is, with equipment and fixtures included.
Positioned across from Narragansett Bay, the site has Hope Street frontage and sits along Bristol’s Fourth of July parade route. GB zoning supports evaluation of the existing improvements and potential future plans, subject to purchaser due diligence, permitted-use review, and required approvals. The property has been held by the same ownership for more than 50 years.
Positioned across from Narragansett Bay, the site has Hope Street frontage and sits along Bristol’s Fourth of July parade route. GB zoning supports evaluation of the existing improvements and potential future plans, subject to purchaser due diligence, permitted-use review, and required approvals. The property has been held by the same ownership for more than 50 years.
Key Highlights
- Approximately 21,930 square feet of land
- GB zoning
- Existing Hope Diner and late‑1800s Victorian‑style three‑family residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,233
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,284,660
$1.3M
Cap Rate 7%
$917,614
$917.6K
Cap Rate 9%
$713,700
$713.7K
Market Conditions
NOI Build-Up for 3,619 SF
Gross rent
$89.0K $24.60/SF
− Vacancy
−$3.4K −$0.93/SF
EGI
$85.6K $23.67/SF
− OpEx
−$21.4K −$5.92/SF
NOI
$64.2K $17.75/SF
Area
Bristol County, RI
Vacancy
3.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,284,660
Cap Rate 7%
$917,614
Cap Rate 9%
$713,700
Alternative Uses
Best Use
Specialty Retail
$917.6K
$802.9K – $1.07M
NOI $64,233 @ 7.0% cap · market cap 3.40%
Second Best
Multifamily LT 5
$873.0K
$763.9K – $1.02M
NOI $61,111 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,753 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 02809, RI
22,493
Population
9,670
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,295
Density / Sq Mi
$96,005
Median Household Income
$41,266
Median Earnings
$1,352
Median Rent
$447,500
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - GB-zoned property with an existing diner and three-family residence across from Narragansett Bay.
Where is this mixed-use property located?
The property is located at 742 Hope Street Bristol, RI.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Approximately 21,930 square feet of land; GB zoning; Existing Hope Diner and late‑1800s Victorian‑style three‑family residence
