Freestanding Seven-Unit Shopping
For Sale
Contact for pricing
101 West Natick Road, Warwick, RI 02886
The property offers a freestanding, multi-tenant retail configuration on a dedicated commercial lot.
Property Size4,584 SF
Lot Size0.40 Acres
Price / SF$349.04
Days on Market127
Property Features for 101 West Natick Road
General Information
Standard status
Active
Size
4,584 SF
Lot size
0.40 Acres
Property subtype
Retail
Occupancy
100%
Net Operating Income
$74,090
Additional Details
Asking Price
$1,600,000
Building Details
Year Built
1980
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Elite Commercial Realty
(401) 333-4900
Listed By:
Michael Alves · License #REC.0016995
Source:
Crexi
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 12:15PM
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 Elite Commercial Realty
Investment Insights
Based on property information with market context.
Located at 101 West Natick Road in Warwick, this freestanding shopping center contains 4,584 square feet arranged among 7 retail units. The single-building layout provides a multi-tenant retail configuration, with each unit contributing to the property’s overall commercial use.
The improvements were constructed in 1980 and occupy a 17,424-square-foot parcel, equal to .4 acres. The property’s separate-unit design supports a range of retail occupants within one consolidated commercial asset. Its Warwick address places the center on West Natick Road, providing a clearly identified location for retail operations.
The improvements were constructed in 1980 and occupy a 17,424-square-foot parcel, equal to .4 acres. The property’s separate-unit design supports a range of retail occupants within one consolidated commercial asset. Its Warwick address places the center on West Natick Road, providing a clearly identified location for retail operations.
Key Highlights
- 4,584 SF freestanding retail building
- 7 retail units within one shopping center
- 17,424 SF lot measuring .4 acres
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
$59,257
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
3.70%
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%
$1,185,140
$1.2M
Cap Rate 7%
$846,529
$846.5K
Cap Rate 9%
$658,411
$658.4K
Market Conditions
NOI Build-Up for 4,584 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
$86.9K $18.96/SF
− Vacancy
−$2.3K −$0.49/SF
EGI
$84.7K $18.47/SF
− OpEx
−$25.4K −$5.54/SF
NOI
$59.3K $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%
$1,185,140
Cap Rate 7%
$846,529
Cap Rate 9%
$658,411
Alternative Uses
Best Use
Retail
$846.5K
$740.7K – $987.6K
NOI $59,257 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,367 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
417k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 66%
Dining 18%
Shops & Services 14%
Electronics 1%
Macy's
Apparel
100,312 visits/mo
0.1 miles
Marshalls
Apparel
47,174 visits/mo
0.4 miles
JCPenney
Apparel
45,850 visits/mo
0.2 miles
Old Navy
Apparel
33,915 visits/mo
0.1 miles
Nordstrom Rack
Apparel
33,668 visits/mo
0.2 miles
Demographics for 02886, RI
29,373
Population
13,669
Households
2.1
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
15.8 sq mi
ZIP Area
1,859
Density / Sq Mi
$91,037
Median Household Income
$52,851
Median Earnings
$1,300
Median Rent
$334,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - The property offers a freestanding, multi-tenant retail configuration on a dedicated commercial lot.
Where is this shopping center located?
The property is located at 101 West Natick Road Warwick, RI.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 4,584 SF freestanding retail building; 7 retail units within one shopping center; 17,424 SF lot measuring .4 acres
