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    575 Main St East Greenwich, RI 02818

    Sponsored
    For Sale
    $1,950,000

    Nine-unit income property, historic district.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional mixed-use property, located at 575 Main Street in the heart of East Greenwich, Rhode Island's historic district, presents a compelling investment opportunity. The property consists of two buildings, each with a full basement, encompassing a total of nine units: three renovated residential apartments and six thriving commercial spaces. The residential units comprise two two-bedroom apartments and one one-bedroom apartment, all featuring private entrances, updated interiors, and individually metered electric and gas services. The six commercial units are equally well-appointed, each including a bathroom, air conditioning, individually metered gas and electric, signage opportunities, and private entrances. Built in 1960, the property sits on a substantial 10,715.76 square foot lot and is a three-story structure. The property has been meticulously maintained and boasts numerous recent updates, contributing to its efficient management and strong income stream. Detailed financial statements (P&L) are available upon request. This is a rare opportunity to acquire a well-maintained, income-producing property in a highly desirable location. The property's combination of residential and commercial units provides a diversified income stream and significant potential for future growth. The address is 575 Main Street, East Greenwich, RI 02818.

    Property Features for 575 Main St

    General Information

    Property type
    Retail properties

    Building Details

    Year Built
    1960
    Buildings
    2
    Stories
    3
    Units
    9
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    East Greenwich
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4532091
    Latitude
    41.6566786

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    FAQs

    What type of property is this?
    Retail property - Nine-unit income property, historic district.
    Where is this retail property located?
    The property is located at 575 Main St East Greenwich, RI.
    What is the asking price?
    The asking price for this property is $1,950,000.
    Request Owner's contact information
    575 Main St East Greenwich, RI 02818
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    East Greenwich, RI 02818
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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
    575 Main St East Greenwich, RI 02818
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