Full-Floor Office
For Sale
$719,000
250D Centerville Road, Warwick, RI 02886
Office condominium with flexible open-plan area, executive offices, private restrooms, and an eat-in kitchenette.
Property Size5,000 SF
Price / SF$143.80
Days on Market69
Property Features for 250D Centerville Road
General Information
Standard status
Active
Size
5,000 SF
Class
B
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
on-site day porter/property management
campus setting with park-like grounds
Building Details
Building Size
5,000 SF
Year Built
1985
Buildings
1
Listing Agency:
MG Commercial
(401) 261-5804
Listed By:
Leeds Mitchell IV, SIOR · License #RI #REB.0019529
(401) 261-5804
Source:
Mgcommercial
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 31 at 12:53PM
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 full-floor office condominium provides 5,000 SF of workspace within Warwick Executive Park. The existing layout includes two executive offices, a reception area, bullpen space, two restrooms, and an eat-in kitchenette. Approximately 2,000 SF remains open for reconfiguration, while windows on three sides bring natural light into the suite. The space may also be subdivided, with common-area restrooms available for that configuration.
The property is part of a campus setting with landscaped, park-like grounds and parking on both sides of the building. On-site day porter and property management services are in place, and the office offers access to Route 95 and surrounding amenities. Built in 1985, the property combines an established office setting with adaptable interior space for ownership or occupancy needs.
The property is part of a campus setting with landscaped, park-like grounds and parking on both sides of the building. On-site day porter and property management services are in place, and the office offers access to Route 95 and surrounding amenities. Built in 1985, the property combines an established office setting with adaptable interior space for ownership or occupancy needs.
Key Highlights
- Full‑floor 5,000 SF office condominium
- Approximately 2,000 SF of open‑plan space available for configuration
- Windows on three sides provide natural light throughout the suite
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
$61,401
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
8.54%
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%
$1,228,020
$1.2M
Cap Rate 7%
$877,157
$877.2K
Cap Rate 9%
$682,233
$682.2K
Market Conditions
NOI Build-Up for 5,000 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
$103.2K $20.64/SF
− Vacancy
−$21.3K −$4.27/SF
EGI
$81.9K $16.37/SF
− OpEx
−$20.5K −$4.09/SF
NOI
$61.4K $12.28/SF
Area
Kent County, RI
Vacancy
20.67%
Lease Rate
$20.64 /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%
$1,228,020
Cap Rate 7%
$877,157
Cap Rate 9%
$682,233
Alternative Uses
Best Use
Office B
$877.2K
$767.5K – $1.02M
NOI $61,401 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.25M
$1.10M – $1.46M
NOI $87,660 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,408
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
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 units - Office condominium with flexible open-plan area, executive offices, private restrooms, and an eat-in kitchenette.
Where is this office units located?
The property is located at 250D Centerville Road Warwick, RI.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Full‑floor 5,000 SF office condominium; Approximately 2,000 SF of open‑plan space available for configuration; Windows on three sides provide natural light throughout the suite
