7691 Post Rd North Kingstown, RI 02852-3220
Property profile & analytics
7691 Post Rd North Kingstown, RI 02852-3220
- Showrooms
- 10,800 SF
- 3.10 lot acres
Property ID
US76-0229458
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- George M. Escobar, Cdoe / Pharmacy
- Walgreens / (Bike/Boat/Book/etc) Store / Cosmetic Store
- FedEx OnSite / Postal Service / Courier Service
- higi / Physician
Property Details for 7691 Post Rd
- Year built
- 1999
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 3.10 lot acres
- Property size
- 10,800 SF
- Zone code
- PR
- Property type
- Showrooms
- APN
- NKIN M:135 B:016
- APU
- NKINM135B016
Description
This exceptional investment opportunity presents a fee-simple, 12,086 square foot Walgreens located at 7691 Post Rd, North Kingstown, RI 02852. The property sits on a 3.1-acre lot and boasts an absolute NNN lease with a corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA), eliminating landlord responsibilities. Built in 1999, this single-story building enjoys 100% occupancy since its lease commencement on May 31, 2008, with the current lease expiring May 31, 2028. The property benefits from eight lease options, including a 10% rent increase in the next option period, offering significant long-term growth potential. The asking price is $3,484,800, representing a 7.00% cap rate and a current NOI of $243,936. This prime location on a main thoroughfare sees over 17,000 cars daily, benefits from excellent visibility due to a signalized intersection, and is situated in a high-income area with average household incomes exceeding $125,000 within a one-mile radius. Limited competition from other national pharmacies (nearest competitor is 2.5 miles away) further enhances the property's value. Nearby national retailers include Kohl's, O'Reilly's, HomeGoods, Chipotle, and Dunkin', solidifying the area's strong retail presence. The property's proximity to Newport, RI, a highly affluent city, adds to its appeal. This is a rare opportunity to acquire a well-performing, low-maintenance retail investment in a desirable location.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,825,000
- 6.5%
- $1,680,000
- 7%
- $1,560,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,152,000
- AI Estimate
- $2,382,000
Market price range: $1.04M - $3.15MMarket price range: $639k - $2.38M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $2,055,000 Current use
- OFFICE BUILDING
- $1,890,000 Change: -8% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $1,725,000 Change: -16% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- North Kingstown
- County
- Washington
- State
- Rhode Island
- Longitude
- -71.4588
- Latitude
- 41.5893
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$55,529
$897,400
$2,513,500
$3,410,900
-
$0.00
$0.00
$0.00
