Tavern With Residential
For Sale
$1,750,000
91 Duke St, East Greenwich, RI 02818
Two-building property combines a tavern, five residential units, and a leasable garage.
Property Size5,557 SF
Price / SF$314.92
Days on Market48
Property Features for 91 Duke St
General Information
Standard status
Active
Size
5,557 SF
Total Parking Spaces
2
Additional Details
Business Included
Yes
Multifamily Units
5
Building Details
Year Built
1890
Buildings
2
Listing Agency:
BHHS Commonwealth Real Estate
Listed By:
Allen Gammons · License #REB.0015256
(401) 742-6050
Source:
Alpernandmesenbourg
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 24 at 8:48PM
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 BHHS Commonwealth Real Estate
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Investment Insights
Based on property information with market context.
This two-building offering includes an operating tavern business, five residential units, and a two-car garage available for lease. The sale also includes the real estate, business operations, and existing fixtures, creating a combined hospitality and residential property package.
Situated at 91 Duke in East Greenwich’s Hill and Harbor District, the property supports several existing income components within one parcel. The residential units and garage provide additional uses alongside the tavern, while the existing buildings offer a foundation for continued operation or future repositioning.
Situated at 91 Duke in East Greenwich’s Hill and Harbor District, the property supports several existing income components within one parcel. The residential units and garage provide additional uses alongside the tavern, while the existing buildings offer a foundation for continued operation or future repositioning.
Key Highlights
- Two‑building property with a tavern and five residential units
- Sale includes the real estate, business, and all fixtures
- Leasable two car garage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,425
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,948,500
$1.9M
Cap Rate 7%
$1,391,786
$1.4M
Cap Rate 9%
$1,082,500
$1.1M
Market Conditions
NOI Build-Up for 5,557 SF
Gross rent
$133.4K $24.00/SF
− Vacancy
−$3.5K −$0.62/SF
EGI
$129.9K $23.38/SF
− OpEx
−$32.5K −$5.84/SF
NOI
$97.4K $17.53/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,948,500
Cap Rate 7%
$1,391,786
Cap Rate 9%
$1,082,500
Alternative Uses
Best Use
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,425 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$1.06M
$927.2K – $1.24M
NOI $74,175 @ 7.0% cap · market cap 4.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
5
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02818, RI
19,907
Population
8,623
Households
2.3
Avg Household Size
45
Median Age
63%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
939
Density / Sq Mi
$120,952
Median Household Income
$72,985
Median Earnings
$1,384
Median Rent
$564,800
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
Similar Off Market Nearby
- Besos Tapas & Wine Bar — 378 Main St, East Greenwich, RI 02818
- Raise the Bar Nutrition — 333 Main St, East Greenwich, RI 02818
- LowKey — 205 Main St, East Greenwich, RI 02818
- The Oaks Tavern — 103 Duke St, East Greenwich, RI 02818
- The Oaks — 103 Duke St, East Greenwich, RI 02818
Frequently Asked Questions
What type of property is this?
Bar & Pub - Two-building property combines a tavern, five residential units, and a leasable garage.
Where is this bar & pub located?
The property is located at 91 Duke St East Greenwich, RI.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Two‑building property with a tavern and five residential units; Sale includes the real estate, business, and all fixtures; Leasable two car garage included
