Prime Commercial Opportunity on
For Sale
$1,400,000
449 Sandy Lane Warwick, Warwick, RI 02889
7,870 sq ft commercial space on a full acre.
Property Size7,870 SF
Lot Size1.00 Acre
Price / SF$177.89
Days on Market102
Property Features for 449 Sandy Lane Warwick
General Information
Standard status
Active
Size
7,870 SF
Total Parking Spaces
28
Lot size
1.00 Acre
Taxes and HOA fees
Annual Taxes
$13,531
Building Details
Building Size
7,870 SF
Year Built
1950
Buildings
1
Stories
1
Listing Agency:
(508) 501-1443
Listed By:
Stephen Rose
(508) 501-1443
Source:
Milestonerealtyinc
Added: May 16
Changed: Aug 14
Last Checked: Aug 25 at 4:53AM
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 Stephen Rose
Investment Insights
Based on property information with market context.
This commercial property on Sandy Lane offers 7,870 sq. ft. of space divided into 2 units, situated on a full acre corner lot. The location benefits from a traffic count of approximately 15,000 cars per day, providing high visibility and accessibility. The site is suited for various uses, including a bank, national or regional franchise, medical or professional offices, or retail. The generous lot size also presents the potential to develop mixed-use space, with commercial units on the ground level and residential apartments above. Located in a high-traffic area, the property is surrounded by established businesses and offers strong demographics for growth, making it suitable for investors, developers, or owner-users.
Key Highlights
- High‑traffic corner lot on Sandy Lane with approx. 15,000 cars per day
- 7,870 sq. ft. of space with 2 units suitable for various commercial uses
- Full acre lot offering potential for mixed‑use development
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
$97,214
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
6.94%
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%
$1,944,280
$1.9M
Cap Rate 7%
$1,388,771
$1.4M
Cap Rate 9%
$1,080,156
$1.1M
Market Conditions
NOI Build-Up for 7,870 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
$172.8K $21.96/SF
− Vacancy
−$17.3K −$2.20/SF
EGI
$155.5K $19.76/SF
− OpEx
−$58.3K −$7.41/SF
NOI
$97.2K $12.35/SF
Area
Kent County, RI
Vacancy
10.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
37.50%
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%
$1,944,280
Cap Rate 7%
$1,388,771
Cap Rate 9%
$1,080,156
Alternative Uses
Best Use
Mixed Use
$1.39M
$1.22M – $1.62M
NOI $97,214 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,977 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 7,870 sq ft commercial space on a full acre.
Where is this mixed-use property located?
The property is located at 449 Sandy Lane Warwick Warwick, RI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: High‑traffic corner lot on Sandy Lane with approx. 15,000 cars per day; 7,870 sq. ft. of space with 2 units suitable for various commercial uses; Full acre lot offering potential for mixed‑use development
