2949 East Main Road

Why We Love it

2949 East Main Road, Portsmouth RI 02871

New 9,000 SqFt commercial tradesmen center available for sale in Portsmouth, RI. All units are fully occupied, however, 3,000 SqFt could be vacated if the next owner wants to occupy a portion of the building. This is a great investment opportunity with a 6.00% Capitalization Rate on a brand new construction.

SALE PRICE:

$2,350,000

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SALE PRICE:
$2,350,000

COMMERCIAL LEASE INCOME:
$166,800 Annually

TOTAL EXPENSE:
$25,665 Annually

• Insurance - $10,663

• Taxes- $11,352

• Landscaping - $2,300

• Snow Plowing - $800

• Septic Inspection - $250

• Alarm inspection - $150

• Water backflow inspection - $150

NET INCOME:
$141,135 Annual

CAPITALIZATION RATE:
6.00%

PROPERTY TYPE:
Commercial Tradesmen Center.

Construction type: Custom build, wood frame, composite siding.

STRUTURE SIZE:
9,000 SqFt

LOT SIZE:
0.99 Acres : 43,124 SqFt

CONSTRUCTION TYPE:
Wood Frame, custom build, composite siding

YEAR BUILT:
2023

TAXES:
Per 2024 Tax rate: $11,352.47/ Year

PLAT/ LOT:
31 / 32 // C

UNIT DESCRIPTION:
Three, 3,000 SqFt Tradesmen units. Each unit has a full bath, with shower.

GARAGE DOORS:
16’W x 14’H

HEAT/AIR:
Gas fired HVAC

WATER:
Publicly Connected

BATHROOMS:
One full bathroom in each unit

ZONING:
LGB

ROOF AGE:
2023 : Asphalt shingles

ZONING:
C1 Commercial

FRONTAGE:
110 Feet of frontage along high traffic East Main Road

ELECTRIC:
3 phase | 400 Amp

SEWER:
Septic System: 2023. 1,000 gallon tank with 1 galley