Leased Retail
For Sale
$950,000
45 Quaker Lane, West Warwick, RI 02893
Commercial/Business,Commercial Sale, West Warwick, RI
Property Size3,907 SF
Lot Size33.00 Acres
Price / SF$243.15
Days on Market106
Property Features for 45 Quaker Lane
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm 2
Parking
45
Subdivision
Kent County Court House
Lot features
Free Standing, Suburban
Standard status
Active
Size
3,907 SF
Lot size
33.00 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12127
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air
Building Details
Year built
1987
Number of units
2
Building materials
Frame
Listing Agency:
Re/Max Preferred · RE/MAX International
(401) 353-2200
Listed By:
Michael Pinelli · License #S15770
(401) 354-5400
Added: May 14
Changed: Aug 19
Last Checked: Aug 27 at 9:06AM
MLS# 1412680
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 3,907 SF retail property in West Warwick includes multiple income-producing units occupied under active leases. Interior spaces and equipment have been updated, while the building’s frame construction dates to 1987. On-site parking serves the property, and the building is heated by natural gas with central systems and cooled by central air.
Located at 45 Quaker Lane, the property is zoned Comm 2 and occupies 33 acres. Existing leases, multiple units, and updated improvements provide a clear operating profile for an owner evaluating an established retail asset.
Located at 45 Quaker Lane, the property is zoned Comm 2 and occupies 33 acres. Existing leases, multiple units, and updated improvements provide a clear operating profile for an owner evaluating an established retail asset.
Key Highlights
- 3,907 SF retail property with multiple income‑producing units
- Fully leased with active tenant leases in place
- 33 acres at 45 Quaker Lane, West Warwick, RI 02893
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,506
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,010,120
$1.0M
Cap Rate 7%
$721,514
$721.5K
Cap Rate 9%
$561,178
$561.2K
Market Conditions
NOI Build-Up for 3,907 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.1K $18.96/SF
− Vacancy
−$1.9K −$0.49/SF
EGI
$72.2K $18.47/SF
− OpEx
−$21.6K −$5.54/SF
NOI
$50.5K $12.93/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,010,120
Cap Rate 7%
$721,514
Cap Rate 9%
$561,178
Alternative Uses
Best Use
Retail
$721.5K
$631.3K – $841.8K
NOI $50,506 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$978.5K
$856.2K – $1.14M
NOI $68,498 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
199k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 48%
Home Improvements & Furnishings 2%
Chick-fil-A
Dining
64,341 visits/mo
0.4 miles
Ocean State Job Lot
Shops & Services
38,185 visits/mo
0.5 miles
Michaels
Shops & Services
35,339 visits/mo
0.5 miles
Cumberland Farms
Shops & Services
24,060 visits/mo
0.1 miles
Shake Shack
Dining
16,844 visits/mo
0.4 miles
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Fully leased retail property with on-site parking and multiple income-producing units.
Where is this retail space located?
The property is located at 45 Quaker Lane West Warwick, RI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,907 SF retail property with multiple income‑producing units; Fully leased with active tenant leases in place; 33 acres at 45 Quaker Lane, West Warwick, RI 02893
