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Property profile & analytics
FOR SALE
Showrooms

460 E Main Rd Middletown, RI 02840

3,197 SF 0.42 ac lot Built 1894
Entity Owned 15-yr Hold ~ Est. High Equity
Property ID
US76-0378541
Property summary
AI-generated overview

This exceptional offering presents a rare opportunity to acquire two adjacent, limited business-zoned properties in the desirable Middletown, RI location. The package includes 460 East Main Road, a 3,200 square foot, eight-office building situated on a 0.46-acre parcel. This building presents itself as an ideal space for a variety of professional uses, given its flexible layout and ample office space. Separately, but equally attractive, is 470 East Main Road, a meticulously maintained 3-bedroom, 2-bathroom Cape-style home spanning a 0.26-acre lot. Completely renovated in 2016, this residence boasts hardwood floors throughout, updated stainless steel appliances, elegant bluestone countertops, and a newer roof, windows, and heating system. The property's current use as a single-family home is easily adaptable to a multitude of commercial applications, thanks to the flexible zoning. The combined 4,796 square feet of space across both properties, situated on a total of 0.68 acres, offers significant potential for expansion, redevelopment, or continued use as a mixed-use property. This unique offering is priced at $1,644,000 and presents a compelling investment opportunity in a thriving Rhode Island community. The flexible zoning allows for a wide range of commercial ventures, making this an exceptional opportunity for both investors and business owners seeking a strategic location with significant upside.

Property profile
Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1894
Total area 3,197 SF
Lot 0.42 ac (18,295 SF)
Zoning code LBA
APN MIDD M:0113 B:00 L:154
UPID US76-0378541
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
  • Newport Insurance Agency Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$320k
CAP Approach CAP
$500k
Comparable Approach Comparable
$400k
Blend (final) Blend
$515k
Owner & transaction history
Nia Realty LLC · 15 yrs held
Nia Realty LLC
since 2010
5 recorded transactions
2010
$392,800
2005
Price N/A
1998
$225,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
LBA · Middletown, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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