129 Oak StWesterly, RI 02891

Property Details for 129 Oak St

Year built

1952

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.29 AC

Property size (Sq ft)

3,720 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

WEST M:48 B:61

APU

WESTM48B61

Description

This exceptional commercial property at 129 Oak Street, Westerly, RI, presents a unique investment opportunity. Spanning 4.22 acres, this established business boasts a 3,720 square foot retail building and has operated successfully for over 50 years under the same family ownership. Its prime location, just minutes from the highway, ensures high visibility and accessibility, making it an attractive destination for customers. The sale includes all remaining inventory at the time of closing, providing a seamless transition for the new owner. The property is currently licensed for both salvage and retail operations, with the licenses transferable to the buyer. This turnkey operation offers immediate income potential and significant growth opportunities. The substantial land area also allows for potential expansion or future development, adding further value to this already lucrative investment. The long-standing history and established customer base provide a solid foundation for continued success. This is a rare chance to acquire a well-established, profitable business with significant real estate assets in a desirable location. Don't miss this opportunity to own a piece of Westerly's commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $904,090

  6.5%

  $834,544

  7%

  $774,934

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,224,859

  Geo Method

  $1,224,859

• Alternative Use

  Use

  Valuation

  Residential

  $703,970

  Hospitality

  $644,832

  Educational

  $536,493

  Medical

  $554,944

  Retail

  $834,544

Location Insight

City

Westerly

County

Washington

State

Rhode Island

Latitude

41.3835

Longitude

-71.8089

CBSA code

39300

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].