Corner Lot Office
For Sale
Contact for pricing
444 West Shore Road, Warwick, RI 02889
Brick front office building on a corner lot with private offices, plumbing, and basement storage for flexible professional use.
Property Size1,716 SF
Price / SF$233.04
Days on Market53
Property Features for 444 West Shore Road
General Information
Standard status
Active
Size
1,716 SF
Total Parking Spaces
6
Property subtype
Office, Special Purpose
Zoning
Office
Building Details
Year Built
1983
Buildings
1
Units
1
Listing Agency:
Re/Max Professionals
(401) 884-6050
Listed By:
Augustus Marsella · License #s30758
Source:
Crexi
Added: Jun 20
Changed: Aug 8
Last Checked: Jul 22 at 11:45AM
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 Re/Max Professionals
Investment Insights
Based on property information with market context.
This brick-front office building offers flexible configuration for professional or medical-related tenants, with one side featuring multiple private offices and existing plumbing infrastructure suitable for medical, wellness, or professional office use. The building includes a full basement that can support additional storage needs. Separate utilities for both sides allow the property to operate as a single office suite or be divided between two spaces.
The property is situated on a prominent corner lot in the Conimicut Village area, just moments from Hoxsie Four Corners. Its placement is intended to support visibility and convenient access for customers and staff.
For owner-occupants, the layout supports a traditional private-office experience while keeping the basement available for storage. For investors or multi-tenant operators, the ability to function as one suite or divide the building can support leasing one portion to help offset ownership costs, while the existing plumbing and private offices provide a practical starting point for medical, wellness, or professional office use.
The property is situated on a prominent corner lot in the Conimicut Village area, just moments from Hoxsie Four Corners. Its placement is intended to support visibility and convenient access for customers and staff.
For owner-occupants, the layout supports a traditional private-office experience while keeping the basement available for storage. For investors or multi-tenant operators, the ability to function as one suite or divide the building can support leasing one portion to help offset ownership costs, while the existing plumbing and private offices provide a practical starting point for medical, wellness, or professional office use.
Key Highlights
- 1,716 SF brick‑front office building on a corner lot in the Conimicut Village area
- Built in 1983 with flexible layout that can be used as one suite or divided into two sides
- One side includes multiple private offices and existing plumbing infrastructure for medical, wellness, or professional use
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
$25,714
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
6.43%
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%
$514,280
$514.3K
Cap Rate 7%
$367,343
$367.3K
Cap Rate 9%
$285,711
$285.7K
Market Conditions
NOI Build-Up for 1,716 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
$46.3K $27.00/SF
− Vacancy
−$3.5K −$2.03/SF
EGI
$42.9K $24.98/SF
− OpEx
−$17.1K −$9.99/SF
NOI
$25.7K $14.99/SF
Area
Kent County, RI
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$514,280
Cap Rate 7%
$367,343
Cap Rate 9%
$285,711
Alternative Uses
Best Use
Healthcare Medical
$367.3K
$321.4K – $428.6K
NOI $25,714 @ 7.0% cap · market cap 6.43%
Second Best
Office B
$301.0K
$263.4K – $351.2K
NOI $21,073 @ 7.0% cap · market cap 5.27%
Theoretical Best
Specialty Retail
$429.8K
$376.1K – $501.4K
NOI $30,085 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Brick front office building on a corner lot with private offices, plumbing, and basement storage for flexible professional use.
Where is this office units located?
The property is located at 444 West Shore Road Warwick, RI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,716 SF brick‑front office building on a corner lot in the Conimicut Village area; Built in 1983 with flexible layout that can be used as one suite or divided into two sides; One side includes multiple private offices and existing plumbing infrastructure for medical, wellness, or professional use
