Multi-Tenant Office
For Sale
Contact for pricing
2797 POST RD, Warwick, RI 02886
Three-unit office building with a currently vacant lower level on highly visible Post Road in Warwick, Rhode Island.
Property Size3,464 SF
Price / SF$180.43
Days on Market57
Property Features for 2797 POST RD
General Information
Standard status
Active
Size
3,464 SF
Class
B
Total Parking Spaces
18
Property subtype
Office, Mixed Use
Zoning
Office
Lease Type
Gross
Net Operating Income
$27,000
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
3
Building Details
Year Built
1970
Buildings
1
Stories
1
Units
18
Tenancy
Multi
Listing Agency:
Elite Commercial Realty
(401) 479-6233
Listed By:
Robert Fox · License #RES.0045429
Source:
Crexi
Added: Jun 16
Changed: Aug 10
Last Checked: Aug 10 at 4:10AM
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 Elite Commercial Realty
Investment Insights
Based on property information with market context.
This well-maintained, three-unit multi-tenant office building offers a total of 3,464 SF across separate offices. The property is designed for straightforward tenanting and includes a lower-level space that is currently vacant, creating an immediate opportunity for an owner-user to occupy the premises or for an investor to lease the unit. The building is presented in good condition and benefits from having existing tenancies within the overall configuration.
The building is situated on highly visible Post Road in Warwick, Rhode Island, providing strong day-to-day accessibility for clients and employees. It is conveniently located near major transportation and business access points, including I-95 and Route 37, with T.F. Green International Airport also nearby. The area includes restaurants, retail amenities, and other major business services.
For prospective tenants, the mix of units can support a variety of office users seeking a shared, multi-tenant setting on a heavily traveled corridor. For buyers, the vacant lower-level unit provides flexibility and enables a tailored occupancy plan, whether that means moving in as an owner-user or adding a new tenant to the existing income stream.
The building is situated on highly visible Post Road in Warwick, Rhode Island, providing strong day-to-day accessibility for clients and employees. It is conveniently located near major transportation and business access points, including I-95 and Route 37, with T.F. Green International Airport also nearby. The area includes restaurants, retail amenities, and other major business services.
For prospective tenants, the mix of units can support a variety of office users seeking a shared, multi-tenant setting on a heavily traveled corridor. For buyers, the vacant lower-level unit provides flexibility and enables a tailored occupancy plan, whether that means moving in as an owner-user or adding a new tenant to the existing income stream.
Key Highlights
- 3,464 SF, 3‑unit multi‑tenant office building for sale in Warwick, RI
- Lower‑level space is currently vacant, offering potential for an owner‑user or additional rental income
- Well‑maintained office property on highly visible Post Road in Warwick
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
$42,539
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
6.81%
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%
$850,780
$850.8K
Cap Rate 7%
$607,700
$607.7K
Cap Rate 9%
$472,656
$472.7K
Market Conditions
NOI Build-Up for 3,464 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
$71.5K $20.64/SF
− Vacancy
−$14.8K −$4.27/SF
EGI
$56.7K $16.37/SF
− OpEx
−$14.2K −$4.09/SF
NOI
$42.5K $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%
$850,780
Cap Rate 7%
$607,700
Cap Rate 9%
$472,656
Alternative Uses
Best Use
Office B
$607.7K
$531.7K – $709.0K
NOI $42,539 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$867.6K
$759.1K – $1.01M
NOI $60,731 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
762
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 building - Three-unit office building with a currently vacant lower level on highly visible Post Road in Warwick, Rhode Island.
Where is this office building located?
The property is located at 2797 POST RD Warwick, RI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,464 SF, 3‑unit multi‑tenant office building for sale in Warwick, RI; Lower‑level space is currently vacant, offering potential for an owner‑user or additional rental income; Well‑maintained office property on highly visible Post Road in Warwick
