Oak Harbor Village Square Lists For $9.6M In RI

Commercial real estate brokerage firm Marcus & Millichap has officially listed the mixed-use asset known as Oak Harbor Village Square in Exeter, Rhode Island. The sizeable property is currently commanding an asking price of $9.6 million.

Spanning an expansive 11.52 acres, the development offers investors a unique combination of commercial spaces and residential units. Market experts are closely watching this listing due to its strong positioning within an affluent local corridor.

Property Breakdown and Recent Upgrades

Located at 567 South County Trail, the prominent asset encompasses 53,493 square feet of total space divided neatly across three distinct buildings. Originally constructed in 2005, the development has maintained high standards through proactive ownership and maintenance.

The complex recently benefited from an impressive injection of over $880,000 in capital improvements. These vital upgrades ensure that future buyers will acquire a turnkey asset with minimal immediate maintenance concerns.

Key Asset Improvements

The recent capital expenditure campaign focused heavily on long-term structural longevity and tenant comfort. Investors evaluating commercial assets often look for these exact markers when reviewing informational guides on property acquisitions.

Key upgrades completed across the 11.52-acre site include:

• Comprehensive and modern roof replacements across the multi-building layout.
• Total upgrades and replacements of the commercial HVAC systems.
• Extensive, high-end renovations applied directly to all on-site residential apartments.

Tenant Composition and Market Advantage

The commercial footprint features a balanced, recession-resistant mix of retail shops, local restaurants, and essential service-oriented businesses. Additionally, the integration of five distinct residential apartments provides a steady secondary stream of recurring rental income.

Listing broker Adam Cohen emphasized that the center acts as a dominant fixture within the local community. Because the surrounding trade area experiences minimal direct retail competition, the property maintains exceptional stability.

Strategic Location and Regional Connectivity

Positioned strategically along Route 2, the development enjoys fantastic everyday vehicle visibility and incredible regional connectivity. The site rests comfortably near major thoroughfares including Route 102 and Interstate 95.

This advantageous positioning places the commercial hub roughly 25 miles southwest of Providence. Furthermore, it sits conveniently close to the main campus of the University of Rhode Island, pulling consistent traffic from students, faculty, and local residents.

Investment Outlook

As marketing efforts led by Thomas Shihadeh and Adam Cohen ramp up, prospective buyers are taking note of the stable tenant mix. Blending commercial retail stability with residential leasing appeal makes this Rhode Island offering a compelling portfolio addition.

Whether investors focus on regional commercial hubs or broader architecture articles covering modern mixed-use developments, Oak Harbor Village Square represents a shining example of suburban retail execution. Marcus & Millichap continues to field strong interest from qualified buyers looking to capture reliable, long-term cash flow.

 
Here is the source article for this story: Marcus & Millichap Lists Mixed-Use Property in Exeter, Rhode Island, for $9.6 Million