101 Franklin St Westerly, RI 02891-3178
- Showrooms
- 5,235 SF
- 0.44 lot acres
Current Use by Public Records
- Eastern Bank / Bank / Atm
- Findeisen Wealth Management Group, LLC / Financial Institution
- Morrone Legal / Legal Services
- Richard Grasso / Psychologist
- Kimberly Dalton Broker EXP Realty / Real Estate Agent / Service Establishment
Property Details for 101 Franklin St
- Year built
- 1986
- Construction
- FRAME
- Lot size
- 0.44 lot acres
- Property size
- 5,235 SF
- Property type
- Showrooms
- APN
- WEST M:88 B:2
- APU
- WESTM88B2
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $555,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $440,000
- 6.5%
- $435,000
- 7%
- $420,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $420,000
- Geo Method
- $390,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $440,000
- Retail
- $375,000
- Mixed-Use
- $420,000
- Hospitality
- $415,000
- Educational
- $350,000
- Residential Income
- $435,000
- Energy
- $470,000
- Income-Based Land
- $415,000
- Food Service
- $375,000
Location Insight
- Map
- Local Demand
- City
- Westerly
- County
- Washington
- State
- Rhode Island
- Longitude
- -71.8122
- Latitude
- 41.3608
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA