Multi-Building Strip Mall
For Sale
$2,195,000
7440 Post Road 7456, North Kingstown, RI 02852
Multi-building plaza with 7–8 units, 50 parking spots, separate electric and gas meters, and public sewer connection.
Property Size9,780 SF
Lot Size1.77 Acres
Price / SF$224.44
Days on Market36
Property Features for 7440 Post Road 7456
General Information
Standard status
Active
Size
9,780 SF
Total Parking Spaces
50
Lot size
1.77 Acres
Zoning
PR
Net Operating Income
$104,800
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$12,236
Amenities
PublicRestrooms
Golf, Pool, Restaurant, Tennis Court(s), Street Lights
Central Air
Forced Air
Building Details
Building Size
9,780 SF
Year Built
1970
Buildings
3
Stories
2
Listing Agency:
NE Real Estate Services
(401) 465-0417
Listed By:
Michael Russo · License #REB.0017244
(401) 465-0417
Source:
Evrealestate
Added: Jul 23
Changed: Aug 23
Last Checked: Aug 26 at 7:20AM
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 NE Real Estate Services
Investment Insights
Based on property information with market context.
This multi-building strip mall/plaza is configured with 2 one-level strip malls, a freestanding mixed-use building, and 7–8 total units. The property sits on approximately 1.77 acres and includes 50 parking spaces. Units are separately metered for electric and natural gas, supporting flexible operations across the center.
The property is connected to public sewers and is located within a commercial PR zone that allows for a variety of uses, including retail, QSR/fast food, office, and more. It is positioned for convenient access to the surrounding North Kingstown area and major routes.
Offered for sale as a well-maintained, multi-tenant commercial asset, this center provides an established, separately metered setup designed to accommodate multiple business configurations under its permitted commercial zoning.
The property is connected to public sewers and is located within a commercial PR zone that allows for a variety of uses, including retail, QSR/fast food, office, and more. It is positioned for convenient access to the surrounding North Kingstown area and major routes.
Offered for sale as a well-maintained, multi-tenant commercial asset, this center provides an established, separately metered setup designed to accommodate multiple business configurations under its permitted commercial zoning.
Key Highlights
- Multi‑building strip mall/plaza built in 1970 on a 1.77‑acre parcel
- 7–8 unit configuration including two one‑level strip malls plus a freestanding mixed‑use building
- 50 parking spots on site
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
$99,164
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
4.52%
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%
$1,983,280
$2.0M
Cap Rate 7%
$1,416,629
$1.4M
Cap Rate 9%
$1,101,822
$1.1M
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
$147.9K $15.12/SF
− Vacancy
−$6.2K −$0.64/SF
EGI
$141.7K $14.48/SF
− OpEx
−$42.5K −$4.35/SF
NOI
$99.2K $10.14/SF
Area
Washington County, RI
Vacancy
4.20%
Lease Rate
$15.12 /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%
$1,983,280
Cap Rate 7%
$1,416,629
Cap Rate 9%
$1,101,822
Alternative Uses
Best Use
Retail
$1.42M
$1.24M – $1.65M
NOI $99,164 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
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
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
13,431 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
3,276 visits/mo
0.3 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Multi-building plaza with 7–8 units, 50 parking spots, separate electric and gas meters, and public sewer connection.
Where is this strip mall located?
The property is located at 7440 Post Road 7456 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: Multi‑building strip mall/plaza built in 1970 on a 1.77‑acre parcel; 7–8 unit configuration including two one‑level strip malls plus a freestanding mixed‑use building; 50 parking spots on site
