Multi-Building Strip Mall
For Sale
Contact for pricing
7440-7456 Post Rd, North Kingstown, RI 02852
Commercial PR zoning supports retail, QSR, fast-food, office, and other business uses.
Property Size9,780 SF
Lot Size1.77 Acres
Price / SF$224.44
Days on Market10
Property Features for 7440-7456 Post Rd
General Information
Standard status
Active
Size
9,780 SF
Class
B
Total Parking Spaces
50
Lot size
1.77 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
PR
Occupancy
100%
Lease Type
Modified
Investment Type
Owner/User
Net Operating Income
$104,800
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1970
Year Renovated
2020
Buildings
3
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Michael Russo · License #REB.0017244
Source:
Crexi
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 7 at 3:59AM
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 Ri Real Estate Services
Investment Insights
Based on property information with market context.
This 9,780-square-foot commercial property comprises two one-level strip mall buildings and a freestanding mixed-use building on a 1.77-acre parcel. The layout includes approximately 7-8 units, with 50 parking spaces serving the site. Constructed in 1970, the property is connected to public sewers, and each unit has separate electric and natural gas metering.
The property is located at 7440-7456 Post Rd in North Kingstown, with access to Quonset, Wickford, South County, and nearby highways. The surrounding context includes hundreds of new and existing residential dwellings. PR zoning supports a range of stated commercial applications, including retail, QSR or fast-food, and office uses.
The property is located at 7440-7456 Post Rd in North Kingstown, with access to Quonset, Wickford, South County, and nearby highways. The surrounding context includes hundreds of new and existing residential dwellings. PR zoning supports a range of stated commercial applications, including retail, QSR or fast-food, and office uses.
Key Highlights
- 9,780 SF multi‑building commercial property on 1.77 acres
- Two one‑level strip malls plus a freestanding mixed‑use building
- Approximately 7‑8 units with 50 parking spaces
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
$113,185
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
5.16%
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%
$2,263,700
$2.3M
Cap Rate 7%
$1,616,929
$1.6M
Cap Rate 9%
$1,257,611
$1.3M
Market Conditions
NOI Build-Up for 9,780 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
$196.0K $20.04/SF
− Vacancy
−$45.1K −$4.61/SF
EGI
$150.9K $15.43/SF
− OpEx
−$37.7K −$3.86/SF
NOI
$113.2K $11.57/SF
Area
Washington County, RI
Vacancy
23.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,263,700
Cap Rate 7%
$1,616,929
Cap Rate 9%
$1,257,611
Alternative Uses
Best Use
Office B
$1.62M
$1.41M – $1.89M
NOI $113,185 @ 7.0% cap · market cap 5.16%
Second Best
Retail
$1.42M
$1.24M – $1.65M
NOI $99,164 @ 7.0% cap · market cap 4.52%
Theoretical Best
Healthcare Medical
$1.95M
$1.71M – $2.28M
NOI $136,783 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 02852, RI
23,579
Population
10,589
Households
2.2
Avg Household Size
47
Median Age
49%
College-Educated
96%
High-School Grad
30.8 sq mi
ZIP Area
766
Density / Sq Mi
$112,457
Median Household Income
$60,020
Median Earnings
$1,188
Median Rent
$461,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Commercial PR zoning supports retail, QSR, fast-food, office, and other business uses.
Where is this strip mall located?
The property is located at 7440-7456 Post Rd North Kingstown, RI.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 9,780 SF multi‑building commercial property on 1.77 acres; Two one‑level strip malls plus a freestanding mixed‑use building; Approximately 7‑8 units with 50 parking spaces
