Warehouse Condo Unit with Open
For Sale
$275,000
4d-1 Tupperware Dr, North Smithfield, RI 02896
Condo warehouse with an open layout and convenient access for contractors, storage, and small business operations.
Property Size2,136 SF
Price / SF$128.75
Days on Market79
Property Features for 4d-1 Tupperware Dr
General Information
Standard status
Active
Size
2,136 SF
Taxes and HOA fees
Annual Taxes
$1,042
Listing Agency:
Gold Door Realty
(401) 396-2888
Listed By:
Kamil Sarji
(401) 396-2888
Source:
Exprealty
Added: May 25
Changed: Aug 10
Last Checked: Aug 10 at 8:55AM
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 Gold Door Realty
Investment Insights
Based on property information with market context.
This commercial/industrial condo unit offers an approximately 2,136 SF warehouse space with an open layout designed for flexible business and storage arrangements. The space is configured for practical day-to-day use and includes convenient access for moving materials and equipment in and out as needed. The property is presented for lease, with tenants and their agents responsible for due diligence on permitted use and overall property suitability.
Located at 1 Tupperware Dr, Unit 4D in North Smithfield, the unit sits within an established industrial/commercial setting. The property is described as having convenient access to major routes and nearby business areas, supporting straightforward operational connectivity for a range of light commercial uses.
From a tenant fit perspective, this warehouse condo can be a workable choice for contractors, storage operations, and small business users looking for an efficient open warehouse configuration. Because the listing emphasizes tenant-led verification of permitted applications, interested parties should review their specific operating requirements during due diligence.
Located at 1 Tupperware Dr, Unit 4D in North Smithfield, the unit sits within an established industrial/commercial setting. The property is described as having convenient access to major routes and nearby business areas, supporting straightforward operational connectivity for a range of light commercial uses.
From a tenant fit perspective, this warehouse condo can be a workable choice for contractors, storage operations, and small business users looking for an efficient open warehouse configuration. Because the listing emphasizes tenant-led verification of permitted applications, interested parties should review their specific operating requirements during due diligence.
Key Highlights
- Commercial/industrial condo warehouse for lease at 1 Tupperware Dr, Unit 4D, North Smithfield
- Approximately 2,136 SF warehouse space with an open layout
- Convenient access within an established industrial/commercial setting
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
$13,535
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
4.92%
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%
$270,700
$270.7K
Cap Rate 7%
$193,357
$193.4K
Cap Rate 9%
$150,389
$150.4K
Market Conditions
NOI Build-Up for 2,136 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
$16.0K $7.50/SF
− Vacancy
−$96 −$0.05/SF
EGI
$15.9K $7.46/SF
− OpEx
−$2.4K −$1.12/SF
NOI
$13.5K $6.34/SF
Area
Providence County, RI
Vacancy
0.60%
Lease Rate
$7.50 /SF/Yr
Expense Ratio
15.00%
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%
$270,700
Cap Rate 7%
$193,357
Cap Rate 9%
$150,389
Alternative Uses
Best Use
Warehouse
$193.4K
$169.2K – $225.6K
NOI $13,535 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$508.1K
$444.6K – $592.8K
NOI $35,565 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02896, RI
11,154
Population
4,759
Households
2.3
Avg Household Size
48
Median Age
34%
College-Educated
94%
High-School Grad
23.0 sq mi
ZIP Area
485
Density / Sq Mi
$109,436
Median Household Income
$57,420
Median Earnings
$1,282
Median Rent
$423,500
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Warehouse - Condo warehouse with an open layout and convenient access for contractors, storage, and small business operations.
Where is this warehouse located?
The property is located at 4d-1 Tupperware Dr North Smithfield, RI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Commercial/industrial condo warehouse for lease at 1 Tupperware Dr, Unit 4D, North Smithfield; Approximately 2,136 SF warehouse space with an open layout; Convenient access within an established industrial/commercial setting
