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    Flex Warehouse with Office Build-Out Title is generated by Realmo AI

    376 Dry Bridge Road #H1H2, North Kingstown, RI 02852

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    For Lease
    $19 SF/Yr $9,658/Mo (calc)

    Heated warehouse with high-clearance ceilings, loading dock, and a built-out central air office for day-to-day operations.

    Property size:
    6,100 SF
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 2:44 am

    Property Features for 376 Dry Bridge Road #H1H2

    General Information

    Standard status
    Active
    Size
    6,100 SF

    Building Details

    Year Built
    2009

    We can help!

    Listing Contact
    Michael Russo
    Michael Russo

    Listing agent Michael Russo License #REB.0017244

    Listing office RI Real Estate Services

    Listing date Jun 2, 2026

    Source Liongatere

    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 RI Real Estate Services

    HighLights

    • Unit H1/H2 includes a 3,500+ SF heated warehouse with 20' clear span ceilings
    • Warehouse features two 12' x 14' ground level doors and a 10' x 10' truck level loading dock
    • Built‑out 1,300+ SF office with employee/public facing entrance, flexible workspace, conference room, and 2 private offices
    • Office includes central air; mezzanine offers 1,300+ SF for storage of heavy inventory/equipment accessible via forklift
    • 3‑phase electric and handicap accessible restroom; roughed plumbing for a second restroom
    • Lease structure: base rent plus utilities; water, septic, and exterior/grounds maintenance included in base rent

    Overview

    Unit H1/H2 at Dry Bridge Commerce Park is a flex-style warehouse with a dedicated office build-out and functional storage. The heated warehouse offers 20’ clear span ceilings with two 12’ x 14’ ground level doors and a 10’ x 10’ truck level loading dock. The property includes an approximately 1,300+ SF office with an employee/public facing entrance, flexible workspace, a conference room, two private offices, and central air.

    A well-maintained commercial research & development/light industrial park, the unit is designed for businesses that want operational space and front-office space in the same location. The complex provides ample parking for employees and includes access suitable for larger trucks.

    The layout supports a range of light industrial and back-of-house needs while keeping staff and customers accommodated at the same address. Practical features include 3-phase electric, a handicap accessible restroom, and rough plumbing for a second restroom. A 1,300+ SF mezzanine provides additional heavy inventory or equipment storage and is accessible via forklift. The lease structure is base rent plus utilities, with water, septic, and exterior/grounds maintenance included in base rent.
    Location Intelligence

    Current Use by Public Records

    MGM Express Movers Moving Company Distefano Brothers Concrete ... General Contractor Rhode Island Shed ... Construction Company Schroff Technologies International ... Industrial Manufacturer Hutchco Displays Production Facility

    Suggested Use

    Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Kitchen & Bath Showroom Storage Facility Garden Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Kingstown
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.5109688
    Latitude
    41.5509374

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    FAQs

    What type of property is this?
    Flex space - Heated warehouse with high-clearance ceilings, loading dock, and a built-out central air office for day-to-day operations.
    Where is this flex space located?
    The property is located at 376 Dry Bridge Road #H1H2 North Kingstown, RI.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Unit H1/H2 includes a 3,500+ SF heated warehouse with 20' clear span ceilings; Warehouse features two 12' x 14' ground level doors and a 10' x 10' truck level loading dock; Built‑out 1,300+ SF office with employee/public facing entrance, flexible workspace, conference room, and 2 private offices
    (401) 465-0417
    We can help!
    Listing Contact
    Michael Russo
    Michael Russo
    Real Estate License ID: REB.0017244
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    376 Dry Bridge Road #H1H2, North Kingstown, RI 02852
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