Five-Unit Flex
1220 Fish Road, Tiverton, RI 02878
For Sale
$2,650,000
Fully leased commercial space combines garage and tradesmen areas with a mix of lease terms.
Property Size13,520 SF
Price / SF$196.01
Days on Market13
Property Features for 1220 Fish Road
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Warehouse Space
Tenant in Place
Building Details
Year Built
Building Size
Tenancy
Listing Agency:
Kirby & Kirby
Listed By:
The Kirby & Kirby Team
(401) 324-0048
Source:
Residentialproperties
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 7 at 7:17PM
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 Kirby & Kirby
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Investment Insights
Based on property information with market context.
The 13,520-square-foot flex building contains five commercial units, including 10,360 square feet of garage and tradesmen space. Constructed in 2003, it is fully occupied, with two tenants leased through 2028 and three on month-to-month agreements. This mix provides both fixed-term tenancy and near-term leasing flexibility.
The property is at 1220 Fish Road in Tiverton, near Route 24.
The property is at 1220 Fish Road in Tiverton, near Route 24.
Key Highlights
- Five‑unit commercial building totaling 13,520 square feet
- 10,360 square feet of garage and tradesmen space
- Built in 2003
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,590
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,671,800
$1.7M
Cap Rate 7%
$1,194,143
$1.2M
Cap Rate 9%
$928,778
$928.8K
Market Conditions
NOI Build-Up for 13,520 SF
Gross rent
$134.7K $9.96/SF
− Vacancy
−$6.1K −$0.45/SF
EGI
$128.6K $9.51/SF
− OpEx
−$45.0K −$3.33/SF
NOI
$83.6K $6.18/SF
Area
Newport County, RI
Vacancy
4.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,671,800
Cap Rate 7%
$1,194,143
Cap Rate 9%
$928,778
Alternative Uses
Best Use
Flex RnD
$1.19M
$1.04M – $1.39M
NOI $83,590 @ 7.0% cap · market cap 3.15%
Second Best
Industrial
$898.6K
$786.3K – $1.05M
NOI $62,905 @ 7.0% cap · market cap 2.37%
Theoretical Best
Multifamily LT 5
$3.23M
$2.82M – $3.76M
NOI $225,814 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02878, RI
16,359
Population
7,747
Households
2.1
Avg Household Size
50
Median Age
40%
College-Educated
93%
High-School Grad
29.1 sq mi
ZIP Area
562
Density / Sq Mi
$99,542
Median Household Income
$49,228
Median Earnings
$1,228
Median Rent
$367,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Newport County, RI
Properties on Market for Flex space in Newport County
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Fully leased commercial space combines garage and tradesmen areas with a mix of lease terms.
Where is this flex space located?
The property is located at 1220 Fish Road Tiverton, RI.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Five‑unit commercial building totaling 13,520 square feet; 10,360 square feet of garage and tradesmen space; Built in 2003
