Flex Space with
New
For Sale
$740,000
55 Montebello Road, Warwick, RI 02886
Commercial space in Warwick provides access to regional highways, an international airport, and rail transportation.
Property Size3,100 SF
Lot Size0.23 Acres
Price / SF$238.71
Days on Market7
Property Features for 55 Montebello Road
General Information
Standard status
Active
Size
3,100 SF
Lot size
0.23 Acres
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,429
Amenities
8 Parking Spaces.
Building Details
Year Built
1965
Listing Agency:
Smith and Oak Real Estate Co.
(401) 451-2394
Listed By:
Trinity Greene
(401) 451-2394
Source:
Xome
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 11 at 5:19AM
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 Smith and Oak Real Estate Co.
Investment Insights
Based on property information with market context.
This flex property at 55 Montebello Road provides approximately 3,100 square feet of commercial space on a 10,000-square-foot lot. Built in 1965, the property includes 8 parking spaces and can accommodate office, showroom, contractor headquarters, service, distribution, light industrial, technology, and professional operations.
The site is in Warwick’s City Centre district with access to TF Green International Airport, InterLink Rail Station, I-95, Route 37, and I-295. Its location supports travel throughout Rhode Island and Southeastern Massachusetts, with retail amenities, transportation infrastructure, ongoing redevelopment, and a surrounding business community identified in the property information.
The site is in Warwick’s City Centre district with access to TF Green International Airport, InterLink Rail Station, I-95, Route 37, and I-295. Its location supports travel throughout Rhode Island and Southeastern Massachusetts, with retail amenities, transportation infrastructure, ongoing redevelopment, and a surrounding business community identified in the property information.
Key Highlights
- Approximately 3,100 square feet of flexible commercial space
- 8 parking spaces
- 10,000‑square‑foot lot
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
$38,069
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
5.14%
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%
$761,380
$761.4K
Cap Rate 7%
$543,843
$543.8K
Cap Rate 9%
$422,989
$423.0K
Market Conditions
NOI Build-Up for 3,100 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
$64.0K $20.64/SF
− Vacancy
−$13.2K −$4.27/SF
EGI
$50.8K $16.37/SF
− OpEx
−$12.7K −$4.09/SF
NOI
$38.1K $12.28/SF
Area
Kent County, RI
Vacancy
20.67%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
25.00%
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%
$761,380
Cap Rate 7%
$543,843
Cap Rate 9%
$422,989
Alternative Uses
Best Use
Office B
$543.8K
$475.9K – $634.5K
NOI $38,069 @ 7.0% cap · market cap 5.14%
Second Best
Flex RnD
$272.4K
$238.3K – $317.8K
NOI $19,066 @ 7.0% cap · market cap 2.58%
Theoretical Best
Specialty Retail
$776.4K
$679.4K – $905.8K
NOI $54,349 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02886, RI
29,373
Population
13,669
Households
2.1
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
15.8 sq mi
ZIP Area
1,859
Density / Sq Mi
$91,037
Median Household Income
$52,851
Median Earnings
$1,300
Median Rent
$334,400
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.
Similar Off Market Nearby
- Emery's Catering Services — 425 Pavilion Ave, Warwick, RI 02888
- Eurest Dining Services — 475 Kilvert St #150, Warwick, RI 02886
- Chelo's Banquets and Catering — 2209 Post Rd, Warwick, RI 02886
Frequently Asked Questions
What type of property is this?
Flex space - Commercial space in Warwick provides access to regional highways, an international airport, and rail transportation.
Where is this flex space located?
The property is located at 55 Montebello Road Warwick, RI.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Approximately 3,100 square feet of flexible commercial space; 8 parking spaces; 10,000‑square‑foot lot
