Commercial Real Estate in Rhode Island

5 Replies

Hello Rhode Island real estate community,

I am interested in learning more about the commercial real estate here. What is the scene like? The RIREIG meeting is definitely on my calendar, but outside of that, what other suggestions do folks here have?

@Jacob Cytrynbaum RIREIG is a good place to start. It’s largely residential focused just because that’s the background of most of the members (small residential landlords).

But there’s some commercial background/experience as well, and at least once a year there’s a main speaker who’s commercial oriented.

Outside of RIREIG I know there’s also an IREM chapter for Rhode Island (iremri.org) and I believe they even have a podcast so that’s definitely something to check out.

There's a commercial offshoot of the RI MLS called RICIE (Rhode Island Commercial information Exchange) which was sort of the RI MLS answer to Loopnet but it's had mixed success since a lot of the residential agents seem to dislike that MLS forces them to pay for a separate system when the residential and commercial system used to be the same.

The RI association of Realtors (RIAR) does have classes throughout the year though so if no one else chimes in with more resources here, one thing you could do is attend some of the commercial oriented classes (there’s a slight upcharge for non agents but they are open to the public) and network with the speakers and attendees in this event classes.

Originally posted by @Jacob Cytrynbaum :

Hello Rhode Island real estate community,

I am interested in learning more about the commercial real estate here. What is the scene like? The RIREIG meeting is definitely on my calendar, but outside of that, what other suggestions do folks here have?

 I agree with everything that Anthony said.

In regards to Commercial real estate are there deals? Absolutely. But be careful. 

Both Wallethub and CNBC both listed RI as the worst place to start a business. 

We own some commercial real estate. Most of them do ok. Especially if you have a tenant. 

If you can find a great price on a desirable location you'll do fine.

@Jacob Cytrynbaum I have some industrial property here and I have had luck with it. It’s definitely site specific here but it has worked out well for me. If your strictly looking to invest in a market outside of your own, I probably wouldn’t be looking here but if your invested in the area, there is some potential in the commercial space. There is definitely more potential outside of this state though.

@Brandon Ingegneri thanks for your input. If I find the right spot and the right tenant, it will work out, but that's true no matter where you are. It sounds like it might just be more difficult around here to find that good combination. Since I live in the area, I figured I would start with RI, but I have no qualms looking a little further away. Do you know if CT and/or Mass are generally better?