Office/Warehouse Conversion
For Sale
$1,095,000
2670 Warwick Avenue, Warwick, RI 02889
Vacant freestanding building offers 6,000 SF of office and 2,850 SF of warehouse with a loading dock and two overhead doors.
Property Size8,850 SF
Lot Size1.73 Acres
Price / SF$123.73
Days on Market123
Property Features for 2670 Warwick Avenue
General Information
Standard status
Active
Size
8,850 SF
Lot size
1.73 Acres
Property subtype
Office/Warehouse
Additional Details
Highway Access
Yes
Building Details
Building Size
8,850 SF
Year Built
1980
Construction
concrete block
Listing Agency:
MG Commercial
Listed By:
George Paskalis, SIOR · License #RI #0040525
(401) 374-7038
Source:
Mgcommercial
Added: Jun 25
Changed: Oct 19
Last Checked: Oct 24 at 3:36PM
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
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Investment Insights
Based on property information with market context.
2670 Warwick Avenue is a vacant, freestanding office/warehouse building constructed of concrete block on a 1.73-acre site. The property includes 6,000 SF of office space and 2,850 SF of warehouse space. Warehouse improvements include a loading dock and two overhead doors. The layout also offers flexibility for conversion back to an industrial configuration, with the potential to return the space to 7,650 SF of warehouse and 1,200 SF of office.
On-site parking is available along the front, side, and rear of the building. The property is described as having convenient proximity to highway access.
As currently configured, the building supports combined office and warehouse use, while the documented door and dock features can support loading and distribution operations associated with warehouse space.
On-site parking is available along the front, side, and rear of the building. The property is described as having convenient proximity to highway access.
As currently configured, the building supports combined office and warehouse use, while the documented door and dock features can support loading and distribution operations associated with warehouse space.
Key Highlights
- Vacant, free‑standing office/warehouse building totaling 8,850 SF
- Built in 1980; concrete block construction on a 1.73‑acre site
- Includes 6,000 SF office space and 2,850 SF warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,430
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,088,600
$1.1M
Cap Rate 7%
$777,571
$777.6K
Cap Rate 9%
$604,778
$604.8K
Market Conditions
NOI Build-Up for 8,850 SF
Gross rent
$88.1K $9.96/SF
− Vacancy
−$4.4K −$0.50/SF
EGI
$83.7K $9.46/SF
− OpEx
−$29.3K −$3.31/SF
NOI
$54.4K $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 Rate 5%
$1,088,600
Cap Rate 7%
$777,571
Cap Rate 9%
$604,778
Alternative Uses
Best Use
Office B
$1.55M
$1.36M – $1.81M
NOI $108,681 @ 7.0% cap · market cap 9.93%
Second Best
Flex RnD
$777.6K
$680.4K – $907.2K
NOI $54,430 @ 7.0% cap · market cap 4.97%
Theoretical Best
Specialty Retail
$2.22M
$1.94M – $2.59M
NOI $155,158 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02889, RI
28,277
Population
11,947
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
3,327
Density / Sq Mi
$85,617
Median Household Income
$50,988
Median Earnings
$1,216
Median Rent
$299,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Vacant freestanding building offers 6,000 SF of office and 2,850 SF of warehouse with a loading dock and two overhead doors.
Where is this flex space located?
The property is located at 2670 Warwick Avenue Warwick, RI.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Vacant, free‑standing office/warehouse building totaling 8,850 SF; Built in 1980; concrete block construction on a 1.73‑acre site; Includes 6,000 SF office space and 2,850 SF warehouse space
