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    North Kingstown Commercial Flex Space Title is generated by Realmo AI

    376 Dry Bridge Road, North Kingstown, RI 02852

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    For Sale
    $949,000

    COMMERCIAL - North Kingstown, RI

    Type:Office
    Property size:
    3,841 SF
    Price / SF:
    $247/SF
    Added:
    May 13, 2026
    Days on Market:
    1
    Last Refresh:
    May 13 at 7:06 pm

    Property Features for 376 Dry Bridge Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    LI
    Parking
    10
    Interior features
    Ceiling Height (20 Plus Feet)
    Standard status
    Active
    Size
    3,841 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    10035

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Zoned, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2006
    Floors in Building
    1
    Number of units
    3
    Building materials
    Steel

    We can help!

    Listing Contact
    Michael Russo
    Michael Russo

    Listing agent Michael Russo License #REB.0017244

    Listing office Ri Real Estate Services 631 Main Street, East Greenwich, RI

    Listing date May 13, 2026

    MLS# 1412564

    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.

    Overview

    Located in the desirable Dry Bridge Commerce Park in North Kingstown, Rhode Island, this commercial property offers convenient access to major routes, Quonset/Port of Davisville, RI Airport, Newport, and South County. The meticulously maintained park is suitable for businesses seeking a clean environment with combined business operations and front office capabilities. The property features ample parking and accommodates larger trucks. Unit B2 offers two sides, with one side featuring a heated warehouse space exceeding 2,000 square feet with 20-foot clear span ceilings and two 12'x14' ground-level doors. The other side includes a public-facing office with a separate entrance and parking area. The office space, over 900 square feet, includes flexible workspace, a private office, a bathroom, and central air. Additionally, there is an 800+ square foot lower workshop/manufacturing area that is heated and cooled and has another bathroom. The property also offers 3-phase electric and handicap-accessible restrooms. Water, septic, exterior/grounds maintenance, and master insurance are included in the condo fee. The property is zoned LI, allowing for commercial, research & development, and light industrial uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    MGM Express Movers Moving Company Distefano Brothers Concrete ... General Contractor Rhode Island Shed ... Construction Company Schroff Technologies International ... Industrial Manufacturer Hutchco Displays Production Facility

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Kitchen & Bath Showroom Storage Facility Garden Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Kingstown
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.512073
    Latitude
    41.550864

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    FAQs

    What type of property is this?
    Flex space - Commercial flex space in desirable Dry Bridge Commerce Park.
    Where is this flex space located?
    The property is located at 376 Dry Bridge Road North Kingstown, RI.
    What is the asking price?
    The asking price for this property is $949,000.
    (401) 465-0417
    We can help!
    Listing Contact
    Michael Russo
    Michael Russo
    Real Estate License ID: REB.0017244
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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