Two-Level Office
For Sale
$475,000
230 Airport Road, Warwick, RI 02889
Commercial/Business,Commercial Sale, Warwick, RI
Property Size2,400 SF
Lot Size0.62 Acres
Price / SF$197.92
Days on Market56
Property Features for 230 Airport Road
General Information
Property type
Commercial Sale
Property subtype
Single Family Residence
Zoning
GB
Rooms
Basement
Parking
25
Interior features
Ceiling Height (7 to 9 Ft)
Basement
Full
Lot features
Urban
Standard status
Active
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10644
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Number of units
1
Architectural style
Ranch
Listing Agency:
Keller Williams Coastal · Keller Williams Realty
(401) 845-9200
Listed By:
The Janikies Group
(401) 529-4322
Added: Aug 11
Changed: Sep 10
Last Checked: Oct 5 at 4:06PM
MLS# 1420351
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property at 230 Airport Road comprises flexible space across two levels on a 0.62-acre parcel. The building dates to 1958 and includes a basement, central air conditioning, forced-air heating, and ceiling heights ranging from 7 to 9 feet. Public water serves the property, while wastewater is handled by a septic tank.
The site is positioned along a highly traveled Warwick corridor with road exposure and on-site parking. T.F. Green International Airport and major highways are nearby. The property is currently associated with commercial office use and carries GB zoning. Any change to residential use, tax classification, expansion, or other intended use remains subject to applicable City of Warwick requirements and approvals.
The site is positioned along a highly traveled Warwick corridor with road exposure and on-site parking. T.F. Green International Airport and major highways are nearby. The property is currently associated with commercial office use and carries GB zoning. Any change to residential use, tax classification, expansion, or other intended use remains subject to applicable City of Warwick requirements and approvals.
Key Highlights
- 0.62‑acre office property at 230 Airport Road, Warwick, RI 02889
- GB zoning with commercial office use
- Two‑level building constructed in 1958
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,473
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,460
$589.5K
Cap Rate 7%
$421,043
$421.0K
Cap Rate 9%
$327,478
$327.5K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$49.5K $20.64/SF
− Vacancy
−$10.2K −$4.27/SF
EGI
$39.3K $16.37/SF
− OpEx
−$9.8K −$4.09/SF
NOI
$29.5K $12.28/SF
Area
Kent County, RI
Vacancy
20.67%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,460
Cap Rate 7%
$421,043
Cap Rate 9%
$327,478
Alternative Uses
Best Use
Office B
$421.0K
$368.4K – $491.2K
NOI $29,473 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$601.1K
$526.0K – $701.3K
NOI $42,077 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 02889, RI
28,277
Population
11,947
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
3,327
Density / Sq Mi
$85,617
Median Household Income
$50,988
Median Earnings
$1,216
Median Rent
$299,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - GB-zoned property with public water, central air, and on-site parking along Airport Road.
Where is this office building located?
The property is located at 230 Airport Road Warwick, RI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 0.62‑acre office property at 230 Airport Road, Warwick, RI 02889; GB zoning with commercial office use; Two‑level building constructed in 1958
