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    62 Franklin St Westerly, RI 02891

    For Lease
    $14 SF/Yr

    800 SF Office/Retail Space Available

    Lot size:
    800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional commercial property, located at 62 Franklin Street in Westerly, Rhode Island, presents a fantastic leasing opportunity. The property consists of two single-story buildings totaling 800 square feet of immediately available space, perfect for an office or retail tenant. Situated in the highly visible Ocean Plaza, this Class B property boasts a prime location on a main thoroughfare leading directly to Westerly's picturesque waterfront and beaches, ensuring high traffic and visibility. Built in 1984, the property features ample parking with 100 spaces available for tenants and their clients. The zoning is HC Highway Commercial, ideal for a variety of businesses. The space is currently vacant and ready for immediate occupancy. The monthly rent is $950, plus utilities. The property is zoned for Highway Commercial use within Washington County, offering excellent access and visibility. This is a rare opportunity to secure a well-located, functional space in a thriving coastal community. The large parking lot provides convenient parking for both employees and customers. Don't miss this chance to establish your business in a highly desirable location. Contact us today to schedule a viewing.

    Property Features for 62 Franklin St

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    800 SF
    Class
    B

    Building Details

    Year Built
    1984
    Buildings
    2
    Stories
    1

    Unit(s) available at that property

    Space
    Space Available
    Size
    800 SF
    Rate per SF
    $14

    HighLights

    • 800 SF of office or retail space available for lease.
    • Suitable for quick‑service restaurants.
    • 250 feet of road frontage.
    • High traffic count of 21,300 vehicles.
    • HC Highway Commercial zoning.
    • Ample parking with over 100 spaces.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Guytanno's International Restaurant Seafood Restaurant Subway Sandwich Shop Ocean Community Christian ... Church Golden Chopstix Chinese Restaurant Chinese Grocery Grocery Store

    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
    -71.8146406
    Latitude
    41.364028

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    FAQs

    What type of property is this?
    Neighborhood center - 800 SF Office/Retail Space Available
    Where is this neighborhood center located?
    The property is located at 62 Franklin St Westerly, RI.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 800 SF of office or retail space available for lease.; Suitable for quick-service restaurants.; 250 feet of road frontage.
    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
    62 Franklin St Westerly, RI 02891
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