Renovated Office
For Sale
$3,800,000
4 Blackstone Valley Place, Lincoln, RI 02865
Fully leased office property renovated in 2023 with ML-0.5 zoning and regional highway access.
Property Size22,643 SF
Days on Market146
Property Features for 4 Blackstone Valley Place
General Information
Standard status
Active
Size
22,643 SF
Class
A
Property subtype
Office - General Office
Building Details
Building Size
22,643 SF
Year Built
1991
Year Renovated
2023
Units
1
Listing Agency:
MG Commercial
Listed By:
Leeds Mitchell IV · License #REB0019529
Source:
Commercialcafe
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 30 at 6:48AM
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.
This 22,643-square-foot office building was constructed in 1991 and renovated in 2023. The property is 100% leased by Hasbro, Inc. and carries ML-0.5 zoning, supporting office and flex use potential as stated in the property information.
Located in Lincoln within the Blackstone Valley commercial corridor, the property offers access to Route 146, Interstate 95, Providence, Worcester, and the greater Boston metropolitan area. The surrounding business environment includes professional offices, corporate campuses, medical users, and technology firms. Lincoln Mall and Smithfield Crossing are nearby, with restaurants, banking, fitness facilities, and other daily services in the vicinity.
Located in Lincoln within the Blackstone Valley commercial corridor, the property offers access to Route 146, Interstate 95, Providence, Worcester, and the greater Boston metropolitan area. The surrounding business environment includes professional offices, corporate campuses, medical users, and technology firms. Lincoln Mall and Smithfield Crossing are nearby, with restaurants, banking, fitness facilities, and other daily services in the vicinity.
Key Highlights
- 22,643‑square‑foot office building
- 100% leased by Hasbro, Inc.
- Renovated in 2023; originally constructed in 1991
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
$292,679
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
7.70%
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%
$5,853,580
$5.9M
Cap Rate 7%
$4,181,129
$4.2M
Cap Rate 9%
$3,251,989
$3.3M
Market Conditions
NOI Build-Up for 22,643 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
$453.8K $20.04/SF
− Vacancy
−$63.5K −$2.81/SF
EGI
$390.2K $17.23/SF
− OpEx
−$97.6K −$4.31/SF
NOI
$292.7K $12.93/SF
Area
Providence County, RI
Vacancy
14.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$5,853,580
Cap Rate 7%
$4,181,129
Cap Rate 9%
$3,251,989
Alternative Uses
Best Use
Office B
$4.18M
$3.66M – $4.88M
NOI $292,679 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.39M
$4.71M – $6.28M
NOI $377,017 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 02865, RI
17,902
Population
7,079
Households
2.5
Avg Household Size
45
Median Age
48%
College-Educated
92%
High-School Grad
16.5 sq mi
ZIP Area
1,085
Density / Sq Mi
$117,042
Median Household Income
$59,949
Median Earnings
$1,206
Median Rent
$427,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased office property renovated in 2023 with ML-0.5 zoning and regional highway access.
Where is this office building located?
The property is located at 4 Blackstone Valley Place Lincoln, RI.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 22,643‑square‑foot office building; 100% leased by Hasbro, Inc.; Renovated in 2023; originally constructed in 1991
