Building Details

Year built 1975

Floors in Building 1

Number of units 1

Building materials Masonry

Listing Agency: Re/Max Properties · RE/MAX International r***@ri-homes.com Show Phone

Listed By: Paul Harrison · License #RES.0042365 Show Phone

Added: Aug 31 Changed: Oct 16 Last Checked: Oct 17 at 2:06AM

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MLS# 1421990

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.

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Investment Insights

Based on property information with market context.

This 5,292-square-foot flex space in Johnston, Rhode Island, provides a practical setting for manufacturing, fabrication, warehouse, or contractor operations. The masonry building includes a basement, ceiling heights ranging from 9 to 12 feet, central air, and forced-air heating. An updated roof is among the property improvements.

Built in 1975 on 0.19 acres, the property is positioned near major highways for regional access and logistics. Its existing configuration supports a range of industrial and commercial activities without relying on a specialized use layout.

Key Highlights

• 5,292+/- SF of manufacturing/industrial space
• Updated roof
• 0.19‑acre lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,534

Cap Rate

6.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$670,680 $670.7K

Cap Rate 7%

$479,057 $479.1K

Cap Rate 9%

$372,600 $372.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,292 SF

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 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 (±1% cap)

NOI $33,534 @ 7.0% cap · market cap 6.71%

Second Best

Flex RnD

$467.4K

$409.0K – $545.3K (±1% cap)

NOI $32,719 @ 7.0% cap · market cap 6.55%

Theoretical Best

Multifamily LT 5

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,114 @ 7.0% cap · market cap 17.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Building Supply Plumbing Service Locksmith Acupuncture Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

473

Businesses Nearby

Under-served

Demand for This Use

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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Masonry commercial building with central air, forced-air heating, and a functional industrial layout.

Where is this flex space located?

The property is located at 10 Alcazar Avenue Johnston, RI.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: 5,292+/- SF of manufacturing/industrial space; Updated roof; 0.19‑acre lot