Industrial Warehouse
New
For Sale
$6,285,000
125 Douglas Pike, Smithfield, RI 02917
The property combines enclosed warehousing with industrial outdoor storage.
Property Size77,382 SF
Price / SF$81.22
Days on Market4
Property Features for 125 Douglas Pike
General Information
Standard status
Active
Size
77,382 SF
Property subtype
Single-Tenant Industrial
Additional Details
Outdoor Storage
Yes
Amenities
100% occupied by Builders FirstSource
IOS capabilities on a 12.93 acre site
Mission critical distribution facility
Building Details
Building Size
77,382 SF
Year Built
1985
Listing Agency:
Marcus & Millichap | Phoenix
Listed By:
Peter Bauman · License #License(s): AZ: SA647389000, NV: S.0186153
(602) 687-6685
Source:
Marcusmillichap
Added: Sep 19
Last Checked: Sep 21 at 3:51AM
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 Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
Located at 125 Douglas Pike in Smithfield, Rhode Island, this industrial property provides 77,382 square feet of warehouse and outdoor storage facilities. The improvements date to 1985 and support a combination of enclosed storage and exterior industrial storage uses.
Key Highlights
- 77,382 SF industrial warehouse and outdoor storage facility
- 125 Douglas Pike address in Smithfield, RI 02917
- 1985 construction year
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
$490,350
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
7.80%
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%
$9,807,000
$9.8M
Cap Rate 7%
$7,005,000
$7.0M
Cap Rate 9%
$5,448,333
$5.4M
Market Conditions
NOI Build-Up for 77,382 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
$580.4K $7.50/SF
− Vacancy
−$3.5K −$0.05/SF
EGI
$576.9K $7.46/SF
− OpEx
−$86.5K −$1.12/SF
NOI
$490.4K $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 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%
$9,807,000
Cap Rate 7%
$7,005,000
Cap Rate 9%
$5,448,333
Alternative Uses
Best Use
Warehouse
$7.00M
$6.13M – $8.17M
NOI $490,350 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$18.41M
$16.11M – $21.47M
NOI $1,288,447 @ 7.0% cap · market cap 20.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02917, RI
14,738
Population
5,119
Households
2.9
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
21.4 sq mi
ZIP Area
689
Density / Sq Mi
$106,772
Median Household Income
$44,229
Median Earnings
$988
Median Rent
$416,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - The property combines enclosed warehousing with industrial outdoor storage.
Where is this warehouse located?
The property is located at 125 Douglas Pike Smithfield, RI.
What is the asking price?
The asking price for this property is $6,285,000.
What are key features of this property?
This property features: 77,382 SF industrial warehouse and outdoor storage facility; 125 Douglas Pike address in Smithfield, RI 02917; 1985 construction year
