Flex Office Industrial
For Sale
Contact for pricing
160 Georgia Ave, Providence, RI 02905
Single building with flexible office, industrial, and manufacturing configurations plus on-site parking and industrial power.
Property Size5,620 SF
Price / SF$120.11
Days on Market193
Property Features for 160 Georgia Ave
General Information
Standard status
Active
Size
5,620 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Listing Agency:
HomeSmart Professional Real Estate
(401) 523-9555
Listed By:
Michael A. Alves · License #REC.0016995
(401) 523-9555
Source:
Moodyscre
Added: Jan 30
Changed: Aug 8
Last Checked: Aug 10 at 6:55AM
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 HomeSmart Professional Real Estate
Investment Insights
Based on property information with market context.
This 5,620 SF office/industrial/manufacturing building offers a flexible floor plan that can support a range of light manufacturing, warehouse, flex, contractor, and office uses. The property includes functional clear heights, industrial power availability, and on-site parking.
Located in a Providence industrial corridor with convenient access to I-95, I-195, and Route 10, the building provides efficient regional connectivity for day-to-day operations.
The combination of office space and industrial-oriented improvements makes the asset well-suited for owner-users or investors seeking a versatile layout within a single facility.
Located in a Providence industrial corridor with convenient access to I-95, I-195, and Route 10, the building provides efficient regional connectivity for day-to-day operations.
The combination of office space and industrial-oriented improvements makes the asset well-suited for owner-users or investors seeking a versatile layout within a single facility.
Key Highlights
- 5,620 SF office/industrial/manufacturing building with flexible office, industrial, and manufacturing configurations
- Supports a wide range of uses, including light manufacturing, warehouse, flex, contractor, and office
- Flexible floor plan with functional clear heights and industrial power availability
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
$61,967
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
9.18%
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%
$1,239,340
$1.2M
Cap Rate 7%
$885,243
$885.2K
Cap Rate 9%
$688,522
$688.5K
Market Conditions
NOI Build-Up for 5,620 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
$77.6K $13.80/SF
− Vacancy
−$4.7K −$0.83/SF
EGI
$72.9K $12.97/SF
− OpEx
−$10.9K −$1.95/SF
NOI
$62.0K $11.03/SF
Area
Providence, RI
Vacancy
6.00%
Lease Rate
$13.80 /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%
$1,239,340
Cap Rate 7%
$885,243
Cap Rate 9%
$688,522
Alternative Uses
Best Use
Flex RnD
$1.08M
$942.8K – $1.26M
NOI $75,420 @ 7.0% cap · market cap 11.17%
Second Best
Warehouse
$885.2K
$774.6K – $1.03M
NOI $61,967 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$1.88M
$1.65M – $2.19M
NOI $131,614 @ 7.0% cap · market cap 19.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
Market
Vacancy Rate% for Industrial in Providence, RI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Single building with flexible office, industrial, and manufacturing configurations plus on-site parking and industrial power.
Where is this flex space located?
The property is located at 160 Georgia Ave Providence, RI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 5,620 SF office/industrial/manufacturing building with flexible office, industrial, and manufacturing configurations; Supports a wide range of uses, including light manufacturing, warehouse, flex, contractor, and office; Flexible floor plan with functional clear heights and industrial power availability
