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    64-68 Franklin St Westerly, RI 02891

    For Lease
    Contact for pricing

    Prime Retail Space, I-95 Proximity, High Visibility

    Lot size:
    76,619 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    Shoppes on Franklin presents a unique retail investment opportunity in Washington County. This multi-tenant property boasts a total of 76,619 square feet, with 31,416 square feet currently available for lease. The property is strategically located near I-95, offering excellent accessibility and high visibility to a large customer base. Its proximity to the Connecticut-Rhode Island state line, Westerly State Airport, and the popular Watch Hill and southern coastline beaches further enhances its desirability. The development plan includes the potential for up to 53,000 square feet of additional space, sub-dividable or build-to-suit, plus a separate outparcel of up to 3,800 square feet. Ample parking is provided with 316 spaces. This property is ideal for businesses seeking high-traffic locations with strong regional appeal. The existing space offers immediate occupancy for a variety of retail uses, while the development potential allows for customization to meet specific tenant needs. This is a rare opportunity to secure a prominent retail presence in a thriving coastal market. Contact us today to learn more about leasing options and development possibilities.

    Property Features for 64-68 Franklin St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    76,619 SF

    Unit(s) available at that property

    Space
    Retail A
    Size
    31,416 SF

    HighLights

    • 76,619 SF retail center in Washington County.
    • 31,416 SF of vacant space available for lease.
    • 316 total parking spaces.
    • Multiple tenancy retail property.
    • Currently under development with up to 53,000+ SF of sub‑dividable or build‑to‑suit space available, plus a 3,800+ SF outparcel.
    • Excellent location near I‑95, the CT‑RI state line, and Westerly State Airport, with close proximity to Watch Hill and area beaches.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westerly
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.813667
    Latitude
    41.363732

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Space, I-95 Proximity, High Visibility
    Where is this retail property located?
    The property is located at 64-68 Franklin St Westerly, RI.
    What are key features of this property?
    This property features: 76,619 SF retail center in Washington County.; 31,416 SF of vacant space available for lease.; 316 total parking spaces.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    64-68 Franklin St Westerly, RI 02891
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