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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    622 George Washington Hwy Lincoln, RI 02865

    • Retail properties
    • 578,790 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
    578,790 SF
    Property type
    Retail properties

    Description

    Lincoln Commons, a dominant shopping destination in affluent Lincoln, RI, offers exceptional retail space for lease. This suburban retail center boasts a total of 578,790 square feet and features three suites, with 12,600 square feet currently vacant. Spaces range from a minimum of 1,000 square feet to a maximum contiguous space of 8,435 square feet, providing flexibility for various business needs. The center enjoys a prime location at the highly trafficked intersection of I-295 and Route 146 (42,800 vehicles per day) and is also situated on Route 116 (20,000 vehicles per day), ensuring high visibility and accessibility. Strong anchor tenants such as Target, Stop & Shop, Burlington, HomeGoods, Marshalls, and Five Below draw a significant customer base from Lincoln and surrounding areas, creating a thriving retail environment. This presents a unique opportunity to establish or expand a business within a well-established and successful shopping center in a desirable location. The property is located in Providence County. Contact us today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lincoln
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4777
    Latitude
    41.9385

    Comparable in this City

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      Hwy

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    • Value Estimation by Request
      56,191 SF

      622 George Washington Hwy

      Neighborhood centers • 56,191 SF
      622 George Washington Hwy, Lincoln, RI 02865
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    • Value Estimation
      $36,695,000
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      25 Amica Ctr Blvd

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      25 Amica Ctr Blvd, Lincoln, RI 02865-1157
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      $2,350,000
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      4 Blackstone Vly Pl

      SHOW ROOM, WAREHOUSE • 22,643 SF
      4 Blackstone Vly Pl, Lincoln, RI 02865-1105
      View Details
    • Value Estimation
      $2,280,000
      26,035 SF

      1988 Old Louisquisset Pike

      SHOW ROOM, WAREHOUSE • 26,035 SF
      1988 Old Louisquisset Pike, Lincoln, RI 02865-4528
      View Details
    • Value Estimation
      $1,325,000
      8,910 SF

      12 Breakneck Hl Rd

      SHOW ROOM, WAREHOUSE • 8,910 SF
      12 Breakneck Hl Rd, Lincoln, RI 02865-3909
      View Details

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      Lincoln Mixed-Use Center Space

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      Operational Service Station For Rent

      2,965 SF service station on a high-traffic corner lot.
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      8,435 SF

      Dominant Retail Destination in Lincoln

      Daily needs shopping center in affluent Lincoln, Rhode Island.
      622 George Washington Hwy, Lincoln, RI 02865
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      2,531 SF

      Class A Office Space Available

      2,100 SF office suite available for lease.
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      Land Parcels For Lease

      Six land parcels for lease at North Central State Airport.
      48 Albion Rd, Lincoln, RI 02865
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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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