85 Beach StWesterly, RI 02891

Property Details for 85 Beach St

Year built

1790

Construction

FRAME

Lot size

0.53 AC

Property size (Sq ft)

4,693 SF

Property type

Investment properties

Property subtype

Live-work space

APN

WEST M:86 B:40 L:A

APU

WESTM86B40LA

Description

This exceptional investment opportunity presents a two-story, 1-unit office building situated at 85 Beach Street, Unit 6, in Westerly, Rhode Island. Constructed in 1988, this property offers a versatile space suitable for various commercial uses, including traditional office, medical office, executive office, specialty services, and even dental practices. The building sits on a lot with 0 square feet, indicating a potential for redevelopment or expansion depending on zoning regulations. The asking price is $179,000. Located in Washington County, this property benefits from its address in the vibrant Westerly community, offering convenient access to local amenities and transportation networks. The building's classification as commercial, traditional office, medical office, and executive office highlights its adaptability to a range of professional needs. This is a unique chance to acquire a well-located, established building in a desirable Rhode Island market. The property's single-unit structure simplifies management and ownership, making it an attractive option for both seasoned investors and first-time buyers. Further investigation into zoning and potential development opportunities is encouraged. The property's address is 85 Beach Street, Unit 6, Westerly, RI 02891.

• CAP approach

  CAP return

  Valuation

  6%

  $775,893

  6.5%

  $716,209

  7%

  $665,051

• Comparable approach

  Method

  Valuation

  Relative Method

  $613,187

  Geo Method

  $613,187

• Alternative Use

  Use

  Valuation

  Residential

  $888,099

  Hospitality

  $813,494

  Educational

  $676,818

  Medical

  $700,094

  Retail

  $1,052,827

Location Insight

City

Westerly

County

Washington

State

Rhode Island

Latitude

41.3607

Longitude

-71.8296

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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