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
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