Two-Unit Flex
103 Glenham Avenue Warwick Warwick, RI 02886
103 Glenham Avenue Warwick, Warwick, RI, 02886
$1,250,000
For Sale
$1,250,000
Clean two-unit flex space with 2022 interior and exterior upgrades in a special district permitting many non-industrial uses.
Property Size6,900 SF
Price / SF$181.16
Days on Market44
Property Features for 103 Glenham Avenue Warwick
General Information
- Standard status
- Active
- Size
- 6,900 SF
Building Details
- Year Built
- 1970
Listing Agency
(508) 501-1443
Listed by
Derek DaRosa
(508) 501-1443
Source
Milestonerealtyinc
Added: Jun 3 Checked: Jul 16 at 1:50 am
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 Derek DaRosa
Investment Insights
Based on property information with market context.
This is a clean, well-built two-unit flex property at 103 Glenham Avenue in Warwick, Rhode Island. The building was newly upgraded in 2022, including new lighting, interior and exterior paint, flooring, fans, heat upgrades, and electrical improvements. The layout supports dual-tenant flexibility, making it suitable for either income-producing occupancy or owner occupancy, and the lease/tenant terms are described as negotiable.
The property is located in Warwick’s City Centre within the Intermodal Redevelopment District. Public remarks note proximity to a parking garage, the airport, the train station, and Rt. 95, along with restaurants and nearby lodging activity. The City Centre/Intermodal District zoning is described as a “Special District” that allows many uses but specifically states that industrial uses are not permitted.
For tenants and operators seeking flex space in a district that supports a walkable mix, this configuration offers practical options with two separate units. The 2022 capital improvements can help reduce near-term site work, while the district’s emphasis on retail, restaurants, cafes, and community-oriented development aligns well with non-industrial business models. This offering is also positioned for buyers considering either leasing income or consolidating use under one owner-occupied arrangement.
The property is located in Warwick’s City Centre within the Intermodal Redevelopment District. Public remarks note proximity to a parking garage, the airport, the train station, and Rt. 95, along with restaurants and nearby lodging activity. The City Centre/Intermodal District zoning is described as a “Special District” that allows many uses but specifically states that industrial uses are not permitted.
For tenants and operators seeking flex space in a district that supports a walkable mix, this configuration offers practical options with two separate units. The 2022 capital improvements can help reduce near-term site work, while the district’s emphasis on retail, restaurants, cafes, and community-oriented development aligns well with non-industrial business models. This offering is also positioned for buyers considering either leasing income or consolidating use under one owner-occupied arrangement.
Key Highlights
- 1970‑built 2‑unit flex space in Warwick’s City Centre Intermodal Redevelopment District
- Special District zoning allows many uses, with no industrial use permitted
- New in 2022: lighting, interior and exterior paint, flooring, and fans
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.8k | $18.96 |
| − Vacancy | −$3.4k | −$0.49 |
| EGI | $127.4k | $18.47 |
| − OpEx | −$38.2k | −$5.54 |
| NOI | $89.2k | $12.93 |
6,900 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.49M
NOI $89,196 @ 7.0% cap · market cap 7.14%
Second Best
Flex RnD
$606.2K
$530.5K – $707.3K
NOI $42,437 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$1.73M
$1.51M – $2.02M
NOI $120,971 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Specialty Medical Equipment
Medical Supply Store
Similar For Sale Nearby
Similar Off Market Nearby
- Emery's Catering Services — 425 Pavilion Ave, Warwick, RI 02888
- Eurest Dining Services — 475 Kilvert St #150, Warwick, RI 02886
- Chelo's Banquets and Catering — 2209 Post Rd, Warwick, RI 02886
FAQs
What type of property is this?
Flex space - Clean two-unit flex space with 2022 interior and exterior upgrades in a special district permitting many non-industrial uses.
Where is this flex space located?
The property is located at 103 Glenham Avenue Warwick Warwick, RI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1970‑built 2‑unit flex space in Warwick’s City Centre Intermodal Redevelopment District; Special District zoning allows many uses, with no industrial use permitted; New in 2022: lighting, interior and exterior paint, flooring, and fans
