Mixed-Use Property For
For Sale
Contact for pricing
129 Warren AV Warren Avenue, Pawtucket, RI 02860
Commercial space suitable for office and warehouse with rental income.
Property Size4,497 SF
Price / SF$105.40
Days on Market911
Property Features for 129 Warren AV Warren Avenue
General Information
Standard status
Active
Size
4,497 SF
Total Parking Spaces
39
Property subtype
Office, Land, Industrial
Building Details
Year Built
1900
Buildings
1
Stories
1
Listing Agency:
CENTURY 21 Shoreline Properties
Listed By:
Shanika Hodge
Source:
Crexi
Added: Feb 23, 2024
Changed: Aug 19
Last Checked: Aug 20 at 8:11PM
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 CENTURY 21 Shoreline Properties
Investment Insights
Based on property information with market context.
This mixed-use commercial property offers 4,497 square feet of space suitable for office and warehouse use, with the potential for additional rental income. The building is located minutes from the highway, providing accessibility. Schedule a showing to explore the possibilities.
Key Highlights
- Prime commercial space suitable for office and warehouse use
- Offers additional rental income potential
- 4,497 sq ft of versatile space
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
$28,496
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
6.01%
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%
$569,920
$569.9K
Cap Rate 7%
$407,086
$407.1K
Cap Rate 9%
$316,622
$316.6K
Market Conditions
NOI Build-Up for 4,497 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
$33.7K $7.50/SF
− Vacancy
−$202 −$0.05/SF
EGI
$33.5K $7.46/SF
− OpEx
−$5.0K −$1.12/SF
NOI
$28.5K $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%
$569,920
Cap Rate 7%
$407,086
Cap Rate 9%
$316,622
Alternative Uses
Best Use
Office B
$830.4K
$726.6K – $968.8K
NOI $58,127 @ 7.0% cap · market cap 12.26%
Second Best
Mixed Use
$758.9K
$664.0K – $885.4K
NOI $53,121 @ 7.0% cap · market cap 11.21%
Theoretical Best
Multifamily LT 5
$1.07M
$936.0K – $1.25M
NOI $74,877 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,518
Businesses Nearby
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space suitable for office and warehouse with rental income.
Where is this mixed-use property located?
The property is located at 129 Warren AV Warren Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $474,000.
What are key features of this property?
This property features: Prime commercial space suitable for office and warehouse use; Offers additional rental income potential; 4,497 sq ft of versatile space
