1960 Main Rd, Portsmouth, RI 02871
- Showrooms
- 7,584 SF
- 1.55 lot acres
Current Use by Public Records
- Bill's Sales / Big Box & Wholesale Store
Property Details for 1960 Main Rd
- Year built
- 2010
- Construction
- STEEL FRAME
- Lot size
- 1.55 lot acres
- Zone code
- C
- Property type
- Showrooms
- APN
- PORT M:041 B:0048
- APU
- PORTM041B0048
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 14, 2021 | — | Rem Properties LLC | Robert A Lantz | Quit Claim Deed · related | $600k · Banknewport |
| Oct 13, 2017 | — | Robert A Lantz | — | Deed · related | $150k · Peoples Cu |
| Jul 19, 1993 | $15,000 | Robert A Lantz | Lantz,norman R | Grant Deed · related | $30k · Newport Fsb |
| — | — | Robert A Lantz | — | Deed Of Trust · related | $390k · Peoples Cu |
| — | — | Robert A Lantz | — | Deed Of Trust · related | $150k · Peoples Cu |
Description
This exceptional commercial property at 1960 East Main Road, Portsmouth, RI, presents a unique investment opportunity. The 7,584 square foot steel structure, constructed in 2010, sits on a 1.55-acre lot zoned for commercial use. Its prime location along the high-traffic East Main Road ensures excellent visibility and accessibility. The building boasts modern systems and a spacious layout, ideal for a variety of businesses. The interior comprises over 6,600 square feet of warehouse space equipped with efficient radiant flooring, perfect for storage and operations. In addition, there is 960 square feet of ground-floor retail space, providing ample opportunity for customer interaction and sales. A further 960 square feet of space on the second floor offers additional retail or office potential. This well-maintained property offers significant potential for growth and profitability, making it an attractive proposition for discerning investors seeking a strategically located commercial asset in a thriving area. The property's history as the long-standing home of a successful business adds to its appeal and demonstrates its suitability for a range of commercial uses. The 1.55-acre lot provides ample space for expansion or future development. This is a rare chance to acquire a ready-to-use commercial building in a high-demand location. The asking price is $1,950,000.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,280,000
- 6.5%
- $1,180,000
- 7%
- $1,095,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,165,000
- AI Estimate
- $660,000
Market price range: $946k - $2.32MMarket price range: $418k - $1.46M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Newport
- State
- Rhode Island
- Longitude
- -71.2532
- Latitude
- 41.5845
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
