148 Main StSouth Kingstown, RI 02879

Property Details for 148 Main St

Lot size

0.46 AC

Zone code

CD

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

SKIN P:057-1 L:000061

APU

SKINP0571L000061

Description

This exceptional commercial property at 148 Main Street, South Kingstown, RI 02879, presents a unique investment opportunity. The property consists of two buildings, built in 1867, situated on a substantial 20,240 square foot lot. The offering includes three newly renovated office suites, ideal for a variety of professional uses. Each suite is independently rentable, providing flexibility for single occupants or multiple tenants. The suites range in size from 125 square feet to 202 square feet, with monthly rental rates varying accordingly. The property boasts a shared common waiting area, enhancing convenience and professionalism. Located in the heart of Wakefield, this property offers unparalleled access to local businesses and amenities, situated within a thriving professional office environment. The property is categorized as Traditional Office, Commercial, Storefront, and Executive Office space, making it suitable for a diverse range of businesses. The asking price for the entire property is $40,000. This is a rare opportunity to acquire a well-located, versatile commercial property in a desirable Rhode Island town. The property's two-story design and central Main Street location provide excellent visibility and accessibility. This is an ideal investment for those seeking a strong return in a stable market.

• CAP approach

  CAP return

  Valuation

  6%

  $3,312,880

  6.5%

  $3,058,043

  7%

  $2,839,611

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,618,165

  Geo Method

  $2,618,165

• Alternative Use

  Use

  Valuation

  Residential

  $3,791,973

  Hospitality

  $3,473,427

  Educational

  $2,889,851

  Medical

  $2,989,237

  Retail

  $4,495,323

Location Insight

City

South Kingstown

County

Washington

State

Rhode Island

Latitude

41.4407

Longitude

-71.4939

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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