Flex Building with Two Overhead
115 Duke Street East Greenwich, RI 02818
115 Duke Street, East Greenwich, RI, 02818
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For Sale
Contact for pricing
Brick flex building includes two overhead drive-in doors, central air, gas heat, and floor drains.
Property Size3,320 SF
Price / SF$225.90
Days on Market85
Property Features for 115 Duke Street
General Information
- Standard status
- Active
- Size
- 3,320 SF
- Property subtype
- Retail, Office, Mixed Use
Building Details
- Year Built
- 1945
Listing agency
Ri Real Estate Services
(401) 885-5400
Listed by
Michael Russo · License #REB.0017244
Source
Crexi
Added: Apr 29 Updated: Jul 21 at 12:49PM Checked: Jul 21 at 12:49PM
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 Ri Real Estate Services
Investment Insights
Based on property information with market context.
This well maintained brick front flex building is currently configured for hobby garage, office, and toy storage use. The property includes two overhead drive-in doors, heavy electric service, central air, gas heat, floor drains, and public utilities, supporting a range of light industrial and operational needs.
Located between Main Street and the Waterfront in East Greenwich, the building is within walking distance of restaurants and shops on Main Street, as well as the waterfront and marinas.
The existing layout includes dedicated garage and storage space alongside an office component, providing both work and functional storage areas under one roof.
Located between Main Street and the Waterfront in East Greenwich, the building is within walking distance of restaurants and shops on Main Street, as well as the waterfront and marinas.
The existing layout includes dedicated garage and storage space alongside an office component, providing both work and functional storage areas under one roof.
Key Highlights
- Brick flex building built in 1945 with two overhead drive‑in doors
- Mechanical features include central air and gas heat
- Includes heavy electric service and floor drains
Local Financial Insights For Office B
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 | $68.5k | $20.64 |
| − Vacancy | −$14.2k | −$4.27 |
| EGI | $54.4k | $16.37 |
| − OpEx | −$13.6k | −$4.09 |
| NOI | $40.8k | $12.28 |
3,320 SF · lease $20.64/SF/yr · vacancy 20.67% · expense 25.00%
Alternative Uses
Best Use
Office B
$582.4K
$509.6K – $679.5K
NOI $40,771 @ 7.0% cap · market cap 5.44%
Second Best
Flex RnD
$291.7K
$255.2K – $340.3K
NOI $20,419 @ 7.0% cap · market cap 2.72%
Theoretical Best
Specialty Retail
$831.5K
$727.6K – $970.1K
NOI $58,206 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Anti Pastos Italian Kitchen — 123 Main St, Warwick, RI 02889
FAQs
What type of property is this?
Flex space - Brick flex building includes two overhead drive-in doors, central air, gas heat, and floor drains.
Where is this flex space located?
The property is located at 115 Duke Street East Greenwich, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Brick flex building built in 1945 with two overhead drive‑in doors; Mechanical features include central air and gas heat; Includes heavy electric service and floor drains
