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    Industrial Buildings with Income Potential Title is generated by Realmo AI

    440 Main St., Ashaway, RI

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    Two industrial buildings with additional income from residential rental.

    Type:INDUSTRIAL
    Property size:
    9,100 SF
    Lot size:
    1.09 Acres
    Price / SF:
    $68/SF
    Added:
    May 12, 2022
    Days on Market:
    1496
    Last Refresh:
    May 20 at 9:27 pm

    Property Features for 440 Main St.

    General Information

    Standard status
    Active
    Size
    9,100 SF
    Lot size
    1.09 Acres
    Property subtype
    INDUSTRIAL

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    Listing Contact
    Mike Foncellino
    Mike Foncellino

    Listing agent Mike Foncellino

    Listing office Coldwell Banker Realty | Franklin/Cumberland

    Listing date May 12, 2022

    Source Moodyscre

    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 Coldwell Banker Realty | Franklin/Cumberland

    HighLights

    • Two buildings included: a 2‑family house generating $2500/month plus triple net, and an industrial building.
    • Industrial building's potential for $8.50/sq ft triple net lease, projecting $3000/month income.
    • Versatile industrial building suitable for various uses with town approval: woodworking, warehouse, auto sales & service, light manufacturing, food service, garden center.
    • Convenient location with easy access to I‑95.
    • Industrial building equipped with 3‑phase electric and 2 overhead doors.
    • Industrial building previously used as a machine shop with overhead cranes.

    Overview

    This property features two buildings with a gross building area of 9,100 square feet. The property also includes a two-family house with a two-bedroom and a three-bedroom unit, generating a total of $2,500 per month plus triple net. The industrial building was previously used as a machine shop and includes overhead cranes. With town approval, other potential uses include woodworking, warehouse, auto sales and service, light manufacturing, food service, and a garden center. The proforma lease for the industrial building is $8.50 per square foot, triple net, or $3,000 per month. The property has 3-phase electric power and two overhead doors. It offers convenient access to and from I-95.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $63.7k $7.00
    − Vacancy −$2.9k −$0.32
    EGI $60.8k $6.69
    − OpEx −$9.1k −$1.00
    NOI $51.7k $5.68
    9,100 SF · lease $7.00/SF/yr · vacancy 4.50% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $738.7K
    $646.4K – $861.8K (±1% cap)
    NOI $51,708 @ 7.0% cap · market cap 8.27%
    Second Best
    Industrial
    $608.3K
    $532.3K – $709.7K (±1% cap)
    NOI $42,583 @ 7.0% cap · market cap 6.81%
    Theoretical Best
    Healthcare Medical
    $1.82M
    $1.59M – $2.12M (±1% cap)
    NOI $127,273 @ 7.0% cap · market cap 20.36%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Department Store Grocery & Convenience Store Garden Center Grocery & Convenience Store Cafe & Coffee Shop Restaurant Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Ashaway
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.7822
    Latitude
    41.4551

    FAQs

    What type of property is this?
    Manufacturing property - Two industrial buildings with additional income from residential rental.
    Where is this manufacturing property located?
    The property is located at 440 Main St. Ashaway, 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: Two buildings included: a 2‑family house generating $2500/month plus triple net, and an industrial building.; Industrial building's potential for $8.50/sq ft triple net lease, projecting $3000/month income.; Versatile industrial building suitable for various uses with town approval: woodworking, warehouse, auto sales & service, light manufacturing, food service, garden center.
    (401) 487-6001 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Foncellino
    Mike Foncellino
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