Manufacturing Building with Updated
For Sale
$575,000
10 Alcazar Ave, Johnston, RI 02919
Functional commercial space supports light manufacturing, fabrication, warehouse, and contractor operations.
Property Size5,292 SF
Price / SF$108.65
Days on Market39
Property Features for 10 Alcazar Ave
General Information
Standard status
Active
Size
5,292 SF
Building Details
Year Built
1975
Building Size
5,292 SF
Listing Agency:
RE/MAX Properties
(401) 473-7059
Listed By:
Paul Harrison · License #RES.0042365
Source:
Alpernandmesenbourg
Added: Jul 23
Changed: Aug 30
Last Checked: Aug 30 at 2:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Properties
Investment Insights
Based on property information with market context.
This 5,292-square-foot manufacturing property provides a functional commercial layout for light manufacturing, fabrication, warehousing, or contractor use. An updated roof is among the building’s principal physical improvements. Constructed in 1975, the property offers an established industrial setting for an owner-user or investor seeking adaptable manufacturing space.
The building is located at 10 Alcazar Ave in Johnston, Rhode Island, with access to major highways that support regional logistics and transportation. Its combination of industrial utility, flexible configuration, and highway proximity accommodates a range of commercial operations without requiring a highly specialized layout.
The building is located at 10 Alcazar Ave in Johnston, Rhode Island, with access to major highways that support regional logistics and transportation. Its combination of industrial utility, flexible configuration, and highway proximity accommodates a range of commercial operations without requiring a highly specialized layout.
Key Highlights
- 5,292 SF manufacturing and industrial building
- Updated roof
- Functional layout for light manufacturing, fabrication, warehouse, or contractor use
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
$33,534
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
5.83%
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%
$670,680
$670.7K
Cap Rate 7%
$479,057
$479.1K
Cap Rate 9%
$372,600
$372.6K
Market Conditions
NOI Build-Up for 5,292 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
$39.7K $7.50/SF
− Vacancy
−$238 −$0.05/SF
EGI
$39.5K $7.46/SF
− OpEx
−$5.9K −$1.12/SF
NOI
$33.5K $6.34/SF
Area
Providence County, RI
Vacancy
0.60%
Lease Rate
$7.50 /SF/Yr
Expense Ratio
15.00%
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%
$670,680
Cap Rate 7%
$479,057
Cap Rate 9%
$372,600
Alternative Uses
Best Use
Warehouse
$479.1K
$419.2K – $558.9K
NOI $33,534 @ 7.0% cap · market cap 5.83%
Second Best
Industrial
$394.5K
$345.2K – $460.3K
NOI $27,616 @ 7.0% cap · market cap 4.80%
Theoretical Best
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,114 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Explore this area
Business Placement
Demographics for 02919, RI
29,473
Population
11,993
Households
2.5
Avg Household Size
45
Median Age
29%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,254
Density / Sq Mi
$87,811
Median Household Income
$56,068
Median Earnings
$1,259
Median Rent
$326,100
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Functional commercial space supports light manufacturing, fabrication, warehouse, and contractor operations.
Where is this manufacturing property located?
The property is located at 10 Alcazar Ave Johnston, RI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 5,292 SF manufacturing and industrial building; Updated roof; Functional layout for light manufacturing, fabrication, warehouse, or contractor use
