Industrial Building with Food Processing
2 Commerce Drive, Warwick, RI 02886
For Sale
New
$1,950,000
The facility combines office, food processing, refrigerated, and warehouse areas with loading access and three-phase power.
Property Size19,600 SF
Lot Size1.92 Acres
Price / SF$99.49
Days on Market1
Property Features for 2 Commerce Drive
General Information
Standard status
Size
Lot size
Property subtype
Warehouse & Industrial
Warehouse Space
Office Build-Out
Dock-High Doors
Drive-In Doors
Power
Voltage
Three-Phase Power
Sprinkler System
Cold Storage
Cold Storage Area
Cooler
Additional Details
Utilities to Site
Property Use
Building Details
Building Size
Buildings
Construction
Listed By:
Julie Freshman, SIOR · License #RI #0019769
(401) 439-9091
Source:
Mgcommercial
Added: Nov 6
Last Checked: Nov 6 at 2:32PM
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 Julie Freshman, SIOR
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Investment Insights
Based on property information with market context.
This 19,600-square-foot industrial building on 1.92 acres is constructed of concrete block. Its interior includes 6,000 square feet of office space, 6,000 square feet for food processing, 1,000 square feet of refrigerated space, and 6,600 square feet of warehouse area.
Loading features include two 12-by-12-foot grade-level doors and a trailer-height dock platform with a leveler. The building is fully sprinklered and served by 400-amp, 208-volt three-phase power. Five floor drains connect to the municipal sewer system through a separate private line.
Loading features include two 12-by-12-foot grade-level doors and a trailer-height dock platform with a leveler. The building is fully sprinklered and served by 400-amp, 208-volt three-phase power. Five floor drains connect to the municipal sewer system through a separate private line.
Key Highlights
- 19,600‑square‑foot concrete block industrial building on 1.92 acres
- 6,000 square feet of office space and 6,000 square feet of food processing area
- 6,600‑square‑foot warehouse and 1,000‑square‑foot refrigerated area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,462
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,909,240
$1.9M
Cap Rate 7%
$1,363,743
$1.4M
Cap Rate 9%
$1,060,689
$1.1M
Market Conditions
NOI Build-Up for 19,600 SF
Gross rent
$117.6K $6.00/SF
− Vacancy
−$5.3K −$0.27/SF
EGI
$112.3K $5.73/SF
− OpEx
−$16.8K −$0.86/SF
NOI
$95.5K $4.87/SF
Area
Kent County, RI
Vacancy
4.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,909,240
Cap Rate 7%
$1,363,743
Cap Rate 9%
$1,060,689
Alternative Uses
Best Use
Warehouse
$1.36M
$1.19M – $1.59M
NOI $95,462 @ 7.0% cap · market cap 4.90%
Second Best
Industrial
$1.30M
$1.14M – $1.52M
NOI $91,194 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$4.91M
$4.30M – $5.73M
NOI $343,627 @ 7.0% cap · market cap 17.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Dock-high doors
2
Drive-in doors
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Explore this area
Business Placement
Demographics for 02886, RI
29,373
Population
13,669
Households
2.1
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
15.8 sq mi
ZIP Area
1,859
Density / Sq Mi
$91,037
Median Household Income
$52,851
Median Earnings
$1,300
Median Rent
$334,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Manufacturing property - The facility combines office, food processing, refrigerated, and warehouse areas with loading access and three-phase power.
Where is this manufacturing property located?
The property is located at 2 Commerce Drive Warwick, RI.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 19,600‑square‑foot concrete block industrial building on 1.92 acres; 6,000 square feet of office space and 6,000 square feet of food processing area; 6,600‑square‑foot warehouse and 1,000‑square‑foot refrigerated area
