1688 Old Louisquisset PikeLincoln, RI 02865

Property Details for 1688 Old Louisquisset Pike

Year built

1979

Lot size

0.91 AC

Property size (Sq ft)

1,916 SF

Zone code

RS20

Property type

Other commercial real estate

Property subtype

Showrooms

APN

LINC M:43 L:029.0 U:

APU

LINCM43L0290U

Description

This exceptional Lincoln, RI commercial property, listed at $699,900, presents a unique investment opportunity. Situated on a picturesque 0.91-acre lot within a residential neighborhood, this landmark property comprises four structures totaling 3,520 square feet. The main building, a 1,900 square foot florist and garden center, offers a turnkey operation with existing retail space on the first floor and a spacious second-floor office ideal for expansion or additional storage. A 1,040 square foot basement includes a walk-in refrigerator. A fully heated four-season greenhouse and a two-car garage with another sizable walk-in refrigerator are also included. The property also features a half-acre fully irrigated area behind the main building. The sale includes all business assets, such as inventory, a delivery van, and equipment. The property benefits from grandfather rights, allowing for continued current use or reasonable alternative uses subject to Lincoln town approval. Creative financing options may be available for qualified buyers. This property offers significant potential for a small business owner, expansion of an existing business, or a diverse range of other commercial ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $465,655

  6.5%

  $429,835

  7%

  $399,133

• Comparable approach

  Method

  Valuation

  Relative Method

  $630,868

  Geo Method

  $630,868

• Alternative Use

  Use

  Valuation

  Residential

  $362,582

  Hospitality

  $332,123

  Educational

  $276,323

  Medical

  $285,826

  Retail

  $429,835

Location Insight

City

Lincoln

County

Providence

State

Rhode Island

Latitude

41.8951

Longitude

-71.4488

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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