Mixed-Use Investment
Cumberland, RI 02864, Cumberland, RI 02864
MULTI_FAMILY - Cumberland, RI
Property size:
5,530 SFLot size:
0.23 AcresPrice / SF:
$180/SF- Added:
- Apr 20, 2026
- Days on Market:
- 28
- Last Refresh:
- May 17 at 12:06 am
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MIX
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 5, Bedroom 6, Basement, Bathroom 4, Bathroom 1, Bedroom 3
- Parking
- 8
- Parking features
- Garage
- Interior features
- Wall (Dry Wall), Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
- Basement
- Full, Unfinished, Storage Space
- Appliances
- Gas Water Heater, Dryer, Oven/Range, Refrigerator, Washer
- Standard status
- Active
- Size
- 5,530 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 5717
Utilities
- Heating system
- Natural Gas, Central
- Cooling system
- Central Air
Building Details
- Year built
- 1930
- Floors in Building
- 3
- Number of units
- 4
- Flooring type
- Carpet, Tile - Ceramic, Vinyl, Laminate
- Building materials
- Dry Wall, Brick, Shingles, Vinyl Siding
Listing agent Team Dandurand (401) 529-3131
Listing office Dandurand Real Estate 599 Broad Street, Cumberland, RI (401) 724-6637
Listing date Apr 20, 2026
MLS# 1410463
Listing URL
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Two buildings included: a 3‑unit residential building and a commercial building operating as a food market.
- Residential building has three 2‑bedroom units, each with a bath, living room, applianced kitchen, and assigned parking.
- Commercial building is a modern, one‑level structure with high traffic and visibility.
- Both buildings are free‑standing and in good to very good condition.
- Residential units are occupied by long‑term tenants who pay their own utilities.
- The property includes a coin‑operated laundry in the basement of the residential building.
Overview
This offering consists of a two-building package situated on a 10,000 square foot lot. The first building is a three-unit residential structure, with each unit featuring two bedrooms, a bathroom, a living room, and an equipped kitchen. Residents benefit from assigned parking spaces and a coin-operated laundry facility located in the basement. All units are currently occupied by long-term tenants who are responsible for their own utility expenses. This free-standing residential building has a total area of 3786 square feet and is reported to be in good condition. The second building is a 1723 square foot, single-level commercial structure of modern construction. Currently operating as a long-established food market, this free-standing building benefits from ample parking, high traffic, and good visibility. The commercial building is described as being in very good condition. Located in Cumberland, RI, these buildings are being sold together as a package.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$812.0K
NOI $73,076 @ 9.00% cap · cautious / downside scenario
Moderate
$1.04M
NOI $73,076 @ 7.00% cap · market / base-case scenario
Aggressive
$1.46M
NOI $73,076 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $141.3k | $25.56 |
| − Vacancy | −$8.5k | −$1.53 |
| EGI | $132.9k | $24.03 |
| − OpEx | −$59.8k | −$10.81 |
| NOI | $73.1k | $13.21 |
5,530 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.04M
$913.5K – $1.22M
NOI $73,076 @ 7.0% cap · market cap 7.31%
Second Best
Specialty Retail
$956.9K
$837.3K – $1.12M
NOI $66,980 @ 7.0% cap · market cap 6.70%
Theoretical Best
Multifamily LT 5
$1.32M
$1.15M – $1.53M
NOI $92,077 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Map
- City
- Cumberland
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.4191
- Latitude
- 41.9699
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Two-building package: residential and commercial units in Cumberland, RI.
Where is this mixed-use property located?
The property is located at Cumberland, RI.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Two buildings included: a 3‑unit residential building and a commercial building operating as a food market.; Residential building has three 2‑bedroom units, each with a bath, living room, applianced kitchen, and assigned parking.; Commercial building is a modern, one‑level structure with **high traffic and visibility**.
