Tri-Level Stand Alone
191 Airport Warwick, RI 02889
191 Airport, Warwick, RI, 02889
$350,000
Pending
For Sale
$350,000
Pending
Tri-level building with parking, central A/C, and full basement.
Property Size1,400 SF
Days on Market170
Property Features for 191 Airport
General Information
- Standard status
- Pending
- Size
- 1,400 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1974
Listing agency
WHITE SWAN REALTY
(401) 316-4110
Listed by
MICHAEL MIELE · License #744043047
Source
Corcoran
Added: Feb 1 Updated: Jul 6 at 10:08AM Checked: Jul 21 at 5:44AM
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 WHITE SWAN REALTY
Investment Insights
Based on property information with market context.
This tri-level stand alone building offers approximately 1400 square feet of space and features off-street parking. The well-maintained building includes central air conditioning and a full basement. The main level features a lounge area and a handicap-accessible bathroom. The upper level contains three rooms, a full bathroom, and a full kitchen. The property is centrally located and may be suitable for various business uses.
Key Highlights
- Stand‑alone tri‑level building offering business ownership instead of renting.
- Centrally located with plenty of off‑street parking.
- Features a main lounge area, full kitchen, and handicap‑accessible bathroom on the main level.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.9k | $20.64 |
| − Vacancy | −$6.0k | −$4.27 |
| EGI | $22.9k | $16.37 |
| − OpEx | −$5.7k | −$4.09 |
| NOI | $17.2k | $12.28 |
1,400 SF · lease $20.64/SF/yr · vacancy 20.67% · expense 25.00%
Alternative Uses
Best Use
Office B
$245.6K
$214.9K – $286.5K
NOI $17,192 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$350.6K
$306.8K – $409.1K
NOI $24,545 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
By The Bay Cigar ...
(Bike/Boat/Book/etc) Store
Wainerman Bertha W ...
Physician
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Tri-level building with parking, central A/C, and full basement.
Where is this office building located?
The property is located at 191 Airport Warwick, RI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Stand‑alone tri‑level building offering business ownership instead of renting.; Centrally located with plenty of off‑street parking.; Features a main lounge area, full kitchen, and handicap‑accessible bathroom on the main level.
