Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Warehouse/Flex Space Near Route 3 Title is generated by Realmo AI

    41 Nooseneck Hill, West Greenwich, RI 02817

    View on Map
    Claim this Listing
    For Lease
    $15 SF/Yr $1,500/Mo (calc)

    Warehouse and flex space available for lease near Route 3.

    Type:Commercial
    Property size:
    1,200 SF
    Added:
    Sep 30, 2025
    Days on Market:
    243
    Last Refresh:
    Apr 1 at 9:02 pm

    Property Features for 41 Nooseneck Hill

    General Information

    Standard status
    Active
    Size
    1,200 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2024

    We can help!

    Listing Contact
    JEFF BUTLER
    JEFF BUTLER

    Listing agent JEFF BUTLER License #REB.0010208

    Listing office BUTLER REALTY GROUP

    Listing date Sep 30, 2025

    Source Corcoran

    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 BUTLER REALTY GROUP

    HighLights

    • Two 8400 sq ft warehouse/flexspace buildings.
    • Located only 1/2 mile off Rt 3.
    • Divisible into 1200 sq ft increments.
    • 20' ceiling height with clear span 20x60.
    • 12 x 14 overhead doors.
    • Gas heat and AC available.

    Overview

    Phase 3 is in progress, offering two 8400 square foot warehouse and flex space buildings situated approximately 0.5 miles from Route 3. The space can be divided into increments of 1200 square feet. Each unit features a clear span of 20 feet by 60 feet and a ceiling height of 20 feet. The units include 12 x 14 overhead doors and a bathroom. Gas heat is available, and air conditioning can be installed.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    West Greenwich
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.6047058
    Latitude
    41.6578271

    Nearby Similar for Lease

    • $17 SF/Yr
      8,400 SF

      Tradesman-Style Commercial Building For Rent

      Versatile commercial building suitable for contractors, service providers, and light industry.
      39 Nooseneck Hill Road #507, West Greenwich, RI 02817
      View Details
    • $17 SF/Yr
      8,400 SF

      Tradesman-Style Commercial Building For Rent

      Versatile commercial building near I-95, ideal for various businesses.
      39 Nooseneck Hill Road #305, West Greenwich, RI 02817
      View Details
    • $16 SF/Yr
      1,200 SF

      Tradesman-Style Commercial Building For Rent

      Versatile commercial building near I-95, suitable for various business needs.
      39 Nooseneck Hill #305, West Greenwich, RI 02817
      View Details
    • $4,000/Mo
      2,800 SF

      West Greenwich Commercial Flex Space

      Flex space in a high-visibility, centrally located Rhode Island hub.
      111 Hopkins Hill Road #5B, West Greenwich, RI 02817
      View Details
    • $16 SF/Yr
      1,200 SF

      Tradesman-Style Commercial Building For Rent

      Flexible commercial building near I-95, ideal for various businesses.
      39 Nooseneck Hill #507, West Greenwich, RI 02817
      View Details
    • $17 SF/Yr
      8,400 SF

      Tradesman-Style Commercial Building For Rent

      8,400 SF commercial building suitable for contractors and light industry.
      39 Nooseneck Hill Road #506, West Greenwich, RI 02817
      View Details
    • $4,000/Mo
      2,800 SF

      West Greenwich Commercial Flex Space

      Flex space in a high-visibility West Greenwich commercial hub.
      111 Hopkins Hill #5B, West Greenwich, RI 02817
      View Details
    • $15 SF/Yr
      8,400 SF

      Warehouse/Flex Space Near Route 3

      Warehouse and flex space available for lease near Route 3.
      41 Nooseneck Hill Road, West Greenwich, RI 02817
      View Details
    • $15 SF/Yr
      8,400 SF

      Warehouse/Flex Space Near Route 3

      Warehouse and flex space available for lease near Route 3.
      41 Nooseneck Hill Rd, West Greenwich, RI, 02817-1524
      View Details
    • Contact for pricing
      1,377 SF

      Retail Pad Site For Lease

      New retail pad building with excellent access and synergy.
      705 Centre of New England Blvd, West Greenwich, RI
      View Details
    • Contact for pricing
      6,000 SF

      Retail Pad in High-Traffic Area

      New retail space with strong parking and excellent retail synergy.
      751 Centre of New England Blvd, West Greenwich, RI
      View Details
    • $15 SF/Yr
      8,400 SF

      West Greenwich Flex Space Available

      Flex space available for lease in West Greenwich, Rhode Island.
      Seth's Way, West Greenwich, RI 02817
      View Details

    FAQs

    What type of property is this?
    Flex space - Warehouse and flex space available for lease near Route 3.
    Where is this flex space located?
    The property is located at 41 Nooseneck Hill West Greenwich, RI.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Two 8400 sq ft warehouse/flexspace buildings.; Located only 1/2 mile off Rt 3.; Divisible into 1200 sq ft increments.
    (401) 886-7800
    We can help!
    Listing Contact
    JEFF BUTLER
    JEFF BUTLER
    Real Estate License ID: REB.0010208
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    41 Nooseneck Hill, West Greenwich, RI 02817
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!