East Greenwich Freestanding Office
For Sale
Contact for pricing
5670 Post Road, East Greenwich, RI 02818
Freestanding office building with 12 parking spaces in East Greenwich.
Property Size1,560 SF
Price / SF$384.62
Days on Market828
Property Features for 5670 Post Road
General Information
Standard status
Active
Size
1,560 SF
Total Parking Spaces
12
Property subtype
Office
Building Details
Year Built
1920
Buildings
1
Stories
2
Units
1
Listing Agency:
Compass / Lila Delman Compass
(401) 274-1644
Listed By:
The Phipps Team
Source:
Crexi
Added: May 24, 2024
Changed: Aug 19
Last Checked: Aug 29 at 4:04AM
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 Compass / Lila Delman Compass
Investment Insights
Based on property information with market context.
This freestanding office building is located on Post Road next to Siena/Greenwich Plaza, offering high visibility. The property features over 1500 sq ft of interior space across two levels and includes 12 dedicated parking spaces. Currently used as an office, the property is zoned for commercial uses, suggesting potential for various business applications. The interior is bright and open, with recent updates, and includes individual offices and open space suitable for meetings or presentations. The property benefits from a low-maintenance exterior and interior. Located in East Greenwich, this property offers a prominent presence.
Key Highlights
- Prime location on Post Road next to Siena/Greenwich Plaza with great visibility.
- 12 dedicated parking spaces.
- Over 1500 sq ft of interior space on 2 levels.
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
$19,157
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
3.19%
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%
$383,140
$383.1K
Cap Rate 7%
$273,671
$273.7K
Cap Rate 9%
$212,856
$212.9K
Market Conditions
NOI Build-Up for 1,560 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
$32.2K $20.64/SF
− Vacancy
−$6.7K −$4.27/SF
EGI
$25.5K $16.37/SF
− OpEx
−$6.4K −$4.09/SF
NOI
$19.2K $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%
$383,140
Cap Rate 7%
$273,671
Cap Rate 9%
$212,856
Alternative Uses
Best Use
Office B
$273.7K
$239.5K – $319.3K
NOI $19,157 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$390.7K
$341.9K – $455.8K
NOI $27,350 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 02818, RI
19,907
Population
8,623
Households
2.3
Avg Household Size
45
Median Age
63%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
939
Density / Sq Mi
$120,952
Median Household Income
$72,985
Median Earnings
$1,384
Median Rent
$564,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building with 12 parking spaces in East Greenwich.
Where is this office building located?
The property is located at 5670 Post Road East Greenwich, RI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Prime location on Post Road next to Siena/Greenwich Plaza with great visibility.; 12 dedicated parking spaces.; Over 1500 sq ft of interior space on 2 levels.
