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    622 George Washington Hwy Lincoln, RI 02865
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    Property profile & analytics

    622 George Washington Hwy Lincoln, RI 02865

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    • Neighborhood centers
    • 56,191 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • McDonald's / Restaurant / Take-out & Catering
    • Stop & Shop / Grocery & Convenience Store / Food Market
    • Starbucks / Cafe & Coffee Shop
    • Five Guys / Restaurant / Take-out & Catering
    • CWTheaters Lincoln Mall 16 / Cinema / Theater & Performing Art Venue

    Property Details for 622 George Washington Hwy

    Property size
    56,191 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Lincoln Commons, a multi-tenant property located on Route 116 in Lincoln, Rhode Island, offers a diverse range of retail, office, and industrial spaces totaling 56,191 square feet. Ten individual spaces are currently available, ranging from a minimum of 1,000 square feet to a maximum contiguous space of 12,826 square feet. Currently, 28,601 square feet are vacant, presenting a significant opportunity for expansion or new tenancy. This high-volume suburban location benefits from its proximity to major roadways, including Routes 146 and 295, and Interstate 295, ensuring excellent visibility and accessibility. The property boasts strong anchor tenants, including Stop & Shop, Marshalls, Homegoods, and Target (not owned by the property), further enhancing its appeal and drawing significant foot traffic. High daily traffic counts are recorded on Route 116 (20,000 vehicles), Route 146 (35,031 vehicles), and Interstate 295 (30,289 vehicles), providing exceptional exposure for businesses. Up to 41,600 square feet of combined retail, office, and flex space is available for lease, making this an ideal location for a variety of businesses seeking high visibility and strong traffic flow in a thriving suburban market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4752
    Latitude
    41.9373

    Comparable in this City

    • Value Estimation by Request
      578,790 SF

      622 George Washington Hwy

      Retail properties & Spaces • 578,790 SF
      622 George Washington Hwy, Lincoln, RI 02865
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    • Value Estimation by Request
      12,024 SF

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      Office properties & Spaces • 12,024 SF
      6 520 & 525, Lincoln, RI 02865
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      Wilbur Rd

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      0.41 Acres

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    • Value Estimation by Request
      16.96 Acres

      642 George Washington Hwy

      INDUSTRIAL (GENERAL) • 16.96 Acres
      642 George Washington Hwy, Lincoln, RI 02865-4244
      View Details
    • Value Estimation
      $3,245,000
      56,811 SF

      15 Blackstone Vly Pl

      INDUSTRIAL (GENERAL) • 56,811 SF
      15 Blackstone Vly Pl, Lincoln, RI 02865-1146
      View Details

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    Similar Nearby for Lease

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      Retail Space in High-Volume Location

      Retail and office spaces available in a high-traffic suburban location.
      622 George Washington Hwy, Lincoln, RI 02865
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      127,336 SF

      Large Flex Space in Lincoln

      127,336 sq. ft. flex/office space for rent.
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      Lincoln RI Office Space Available

      Modern, ADA compliant office space for rent in Lincoln, RI.
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      Flex space featuring office and newly constructed warehouse space.
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      Lincoln Mixed-Use Center Space

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      Modern Office Building Near Highway

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    Lincoln, RI 02865
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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