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    Property profile & analytics
    OFF-MARKET Estimated value $545,000
    Showrooms

    101 Franklin St, Westerly, RI 02891-3178

    5,235 SF 0.44 ac lot Built 1986
    Entity Owned 5-yr Hold ~ Est. High Equity
    Property ID
    US76-0321723
    Property summary
    AI-generated overview

    This exceptional commercial property, located at 101 Franklin Street, 2nd Floor, Westerly, RI 02891, presents a fantastic leasing opportunity. Situated on a 19,166 square foot lot, this two-story, 1986-built building offers a 1,000 square foot, second-floor office space ideal for various businesses. The unit boasts floor-to-ceiling windows, providing ample natural light, and features four separate offices, a reception area, and a private bathroom. Benefit from prime pylon signage and a backlit street-facing building sign for excellent visibility. Recent building upgrades include a new roof and HVAC system, ensuring comfort and efficiency. Central air conditioning is also included. The property's zoning allows for a variety of retail and service businesses, in addition to office use. Its convenient location offers easy access to I-95, the Connecticut/Rhode Island border, and Westerly's beaches. A first-floor unit of approximately 750 square feet, also with four offices and a private bathroom, is available for lease separately (see MLS #1361055). The asking price for this second-floor space is $1,500. This property is directly across from a popular shopping plaza, ensuring high foot traffic and visibility.

    Property profile
    Verified
    Property type Showrooms
    Use group SHOW ROOM, WAREHOUSE
    Year built 1986
    Construction FRAME
    Total area 5,235 SF
    Lot 0.44 ac (19,208 SF)
    APN WEST M:88 B:2
    UPID US76-0321723
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Eastern Bank Bank Loan Service
    • Findeisen Wealth Management Group, LLC Bank Credit Union
    • Morrone Legal Law Firm
    • Richard Grasso Physician Medical Clinic
    • Kimberly Dalton Broker EXP Realty Real Estate Agency
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $615k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $645k
    Blend (final) Blend
    $545k
    Owner & transaction history
    Oceanfront Realty LLC · 5 yrs held
    Oceanfront Realty LLC
    since 2020
    Last sale
    $455,000
    4 recorded transactions
    2020
    $455,000
    2011
    2007
    1990
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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