Freestanding Industrial
For Sale
$1,050,000
33 York Avenue, Pawtucket, RI 02860
Masonry industrial building with office space, grade level door, concrete floors, and approximately 12' clear ceiling height.
Property Size9,292 SF
Lot Size0.31 Acres
Price / SF$113
Days on Market48
Property Features for 33 York Avenue
General Information
Standard status
Active
Size
9,292 SF
Lot size
0.31 Acres
Property subtype
Industrial
Zoning
MO/RS
Warehouse & Industrial
Clear Height
12 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Construction
masonry
Listing Agency:
MG Commercial
(401) 374-7038
Listed By:
George Paskalis, SIOR · License #RI #0040525
(401) 374-7038
Source:
Mgcommercial
Added: Jun 25
Changed: Jul 22
Last Checked: Aug 11 at 6:05AM
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 MG Commercial
Investment Insights
Based on property information with market context.
The property is a freestanding 9,292 SF masonry industrial building on 0.21 acres, with office space plus manufacturing/warehouse space. Improvements include concrete floors, ample power, and a 12' high x 10' wide grade level door. Ceiling heights are approximately 12' high clear, supporting a range of light industrial uses.
The sale includes a dedicated 0.10-acre parking lot located across York Avenue on the corner of Princeton Street. The property is described as being in a well-established industrial corridor with convenient highway access to I-95, and it is under MO (Manufacturing)/RS (Residential) zoning.
With both office and manufacturing/warehouse areas, the layout is suited to warehouse, light manufacturing, light production, and assembly use cases as described in the property materials.
The sale includes a dedicated 0.10-acre parking lot located across York Avenue on the corner of Princeton Street. The property is described as being in a well-established industrial corridor with convenient highway access to I-95, and it is under MO (Manufacturing)/RS (Residential) zoning.
With both office and manufacturing/warehouse areas, the layout is suited to warehouse, light manufacturing, light production, and assembly use cases as described in the property materials.
Key Highlights
- 9,292 SF masonry industrial building on 0.21 acres with office space and manufacturing/warehouse space
- Includes a dedicated 0.10‑acre parking lot across York Avenue on the corner of Princeton Street
- Features a 12' high x 10' wide grade level door
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
$58,881
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
5.61%
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%
$1,177,620
$1.2M
Cap Rate 7%
$841,157
$841.2K
Cap Rate 9%
$654,233
$654.2K
Market Conditions
NOI Build-Up for 9,292 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
$69.7K $7.50/SF
− Vacancy
−$418 −$0.05/SF
EGI
$69.3K $7.46/SF
− OpEx
−$10.4K −$1.12/SF
NOI
$58.9K $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%
$1,177,620
Cap Rate 7%
$841,157
Cap Rate 9%
$654,233
Alternative Uses
Best Use
Warehouse
$841.2K
$736.0K – $981.4K
NOI $58,881 @ 7.0% cap · market cap 5.61%
Second Best
Flex RnD
$820.7K
$718.1K – $957.5K
NOI $57,449 @ 7.0% cap · market cap 5.47%
Theoretical Best
Multifamily LT 5
$2.21M
$1.93M – $2.58M
NOI $154,716 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Masonry industrial building with office space, grade level door, concrete floors, and approximately 12' clear ceiling height.
Where is this flex space located?
The property is located at 33 York Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 9,292 SF masonry industrial building on 0.21 acres with office space and manufacturing/warehouse space; Includes a dedicated 0.10‑acre parking lot across York Avenue on the corner of Princeton Street; Features a 12' high x 10' wide grade level door
