27 Crestview DrWesterly, RI 02891

Property Details for 27 Crestview Dr

Year built

1970

Construction

FRAME

Lot size

0.33 AC

Property size (Sq ft)

1,500 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

WEST M:87 B:28

APU

WESTM87B28

Description

This exceptional commercial property at 27 Crestview Drive, Westerly, RI 02891, offers 1500+ square feet of adaptable space, perfect for a variety of businesses. Located in a prime spot next to Westerly Hospital, this single-story, 1975-built building sits on a 999 sq ft lot and features one main level with a potential lower level, providing ample room for expansion or customization. The property includes all utilities, heat, and air conditioning splits. The zoning, LRG BUSNES MDL-94, allows for diverse uses, making it ideal for professionals such as dentists, optometrists, or attorneys. Previously a long-standing dental practice, this move-in ready space presents a unique opportunity. The building is handicap accessible and offers negotiable lease terms. The first year's lease is $850.00, inclusive of heat. The property has one bath and large open spaces. A long-term doctor currently occupies a portion of the building. This is a lease-only opportunity; the building is not for sale. The property's versatility and convenient location make it an attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $364,552

  6.5%

  $336,510

  7%

  $312,473

• Comparable approach

  Method

  Valuation

  Relative Method

  $493,895

  Geo Method

  $493,895

• Alternative Use

  Use

  Valuation

  Residential

  $283,859

  Hospitality

  $260,013

  Educational

  $216,328

  Medical

  $223,768

  Retail

  $336,510

Location Insight

City

Westerly

County

Washington

State

Rhode Island

Latitude

41.3608

Longitude

-71.8254

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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