Industrial Building with Three
For Sale
Contact for pricing
262 Washington St, Warwick, RI
Three-unit industrial building near major roadways, Warwick, Rhode Island.
Property Size3,430 SF
Lot Size0.15 Acres
Price / SF$200
Days on Market297
Property Features for 262 Washington St
General Information
Standard status
Active
Size
3,430 SF
Lot size
0.15 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Sweeney Real Estate &Appraisal
(401) 523-5101
Listed By:
Thomas O Sweeney
(401) 523-5101
Source:
Moodyscre
Added: Oct 20, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:01AM
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 Sweeney Real Estate &Appraisal
Investment Insights
Based on property information with market context.
This is a three-unit industrial building featuring a total building area of approximately 3,430 square feet, situated on a land area of approximately 4,791 square feet. Each unit includes a mezzanine level. The property benefits from its location just off Warwick Avenue, providing convenient access to major roadways. The building is zoned for general business and features new heating, electrical, and fire systems.
Key Highlights
- New Heating, Electrical & Fire Systems
- 3 Unit Industrial Building with a 3,430± SF Building Area
- Mezzanine in Each Unit
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
$21,096
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
3.08%
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%
$421,920
$421.9K
Cap Rate 7%
$301,371
$301.4K
Cap Rate 9%
$234,400
$234.4K
Market Conditions
NOI Build-Up for 3,430 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
$34.2K $9.96/SF
− Vacancy
−$1.7K −$0.50/SF
EGI
$32.5K $9.46/SF
− OpEx
−$11.4K −$3.31/SF
NOI
$21.1K $6.15/SF
Area
Kent County, RI
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$421,920
Cap Rate 7%
$301,371
Cap Rate 9%
$234,400
Alternative Uses
Best Use
Flex RnD
$301.4K
$263.7K – $351.6K
NOI $21,096 @ 7.0% cap · market cap 3.08%
Second Best
Industrial
$228.0K
$199.5K – $266.0K
NOI $15,959 @ 7.0% cap · market cap 2.33%
Theoretical Best
Specialty Retail
$859.1K
$751.7K – $1.00M
NOI $60,135 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Buddha Belly Food Truck & Restaurant — 400 Warwick Ave #16, Warwick, RI 02888
Frequently Asked Questions
What type of property is this?
Flex space - Three-unit industrial building near major roadways, Warwick, Rhode Island.
Where is this flex space located?
The property is located at 262 Washington St Warwick, RI.
What is the asking price?
The asking price for this property is $686,000.
What are key features of this property?
This property features: New Heating, Electrical & Fire Systems; 3 Unit Industrial Building with a 3,430± SF Building Area; Mezzanine in Each Unit
