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575-589 Main St

8,130 SF 100% Leased Retail Building East Greenwich, RI 02818 £1,540,519 (£189/SF) 5.57% Net Initial Yield

Investment Highlights

  • Disirable location
  • All tenants except 2 are month to month
  • Below market rents

Executive Summary

Prime investment. 100% occupied 6 commercial units and 3 Residential in Downtown East Greenwich. Rents well below market

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income £107,651 £13.24
Other Income - -
Vacancy Loss - -
Effective Gross Income £107,651 £13.24
Taxes £17,487 £2.15
Operating Expenses £21,118 £2.60
Total Expenses £38,606 £4.75
Net Operating Income £69,045 £8.49

Financial Summary (Actual - 2023)

Gross Rental Income
Annual £107,651
Annual Per SF £13.24
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £107,651
Annual Per SF £13.24
Taxes
Annual £17,487
Annual Per SF £2.15
Operating Expenses
Annual £21,118
Annual Per SF £2.60
Total Expenses
Annual £38,606
Annual Per SF £4.75
Net Operating Income
Annual £69,045
Annual Per SF £8.49

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
8,130 SF
Building Class
C
Year Built
1910
Price
£1,540,519
Price Per SF
£189
Net Initial Yield
5.57%
NOI
£85,844
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.76
Land Acres
0.25 AC
Zoning
C - Residential/Retail
Parking
4 Spaces (0.49 Spaces per 1,000 SF Leased)
Frontage
66 ft on Main St

Amenities

  • Bus Route
1 of 1
Walk Score ®
Very Walkable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number EGRE-000075-000003-000082 Total Assessment £425,587 (2024)
Land Assessment £245,537 (2024) Annual Taxes £17,487 (£2.15/sf)
Improvements Assessment £180,050 (2024) Tax Year 2023

PROPERTY TAXES

Parcel Number
EGRE-000075-000003-000082
Land Assessment
£245,537 (2024)
Improvements Assessment
£180,050 (2024)
Total Assessment
£425,587 (2024)
Annual Taxes
£17,487 (£2.15/sf)
Tax Year
2023
(401) 368-4485

  • Listing ID: 32501348

  • Date on Market: 18/07/2024

  • Last Updated:

  • Address: 575-589 Main St, East Greenwich, RI 02818

The Retail Property at 575-589 Main St, East Greenwich, RI 02818 is currently available For Sale. Contact Residential Properties Ltd for more information.

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© 2024 CoStar Group

575-589 Main St
(401) 368-4485 x

575-589 Main St

Scott Veloso

(401) 368-4485

(401) 368-4485

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