Occupied Mixed-Use Commercial
For Sale
$995,000
634 Main Street, Warren, RI 02885
Commercial/Business,Commercial Sale, Warren, RI
Property Size4,332 SF
Lot Size0.36 Acres
Price / SF$229.69
Days on Market27
Property Features for 634 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Parking
30
Interior features
Ceiling Height (7 to 9 Ft)
Subdivision
Downtown Warren
Lot features
Paved, Downtown
Standard status
Active
Size
4,332 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13026
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1980
Floors in Building
2
Number of units
3
Listing Agency:
Re/Max River's Edge - Bristol · RE/MAX International
(401) 254-1776
Listed By:
Debra Jobin · License #132868
(401) 527-7894
Added: Jul 28
Changed: Aug 19
Last Checked: Aug 23 at 6:06PM
MLS# 1419017
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 634 Main Street in Warren, this 4,332-square-foot mixed-use commercial property was built in 1980 and is fully occupied. The main level houses a dental practice, while the lower level contains two office suites with separate private entrances. The suites are configured for professional, legal, medical, or other business uses. Forced-air heating, central air, and 7- to 9-foot ceilings are among the interior and building systems features.
The property sits on a 0.36-acre lot along Main Street in Warren’s Commercial and Downtown District. On-site parking serves occupants and visitors. Notable improvements include a roof replacement in 2012, HVAC systems less than seven years old, and an exterior refurbishment completed in 2025. The property is zoned R6.
The property sits on a 0.36-acre lot along Main Street in Warren’s Commercial and Downtown District. On-site parking serves occupants and visitors. Notable improvements include a roof replacement in 2012, HVAC systems less than seven years old, and an exterior refurbishment completed in 2025. The property is zoned R6.
Key Highlights
- 4,332‑square‑foot mixed‑use commercial property on a 0.36‑acre lot
- Fully occupied by a dental practice and two lower‑level office suites
- Two office suites feature separate private entrances
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
$74,126
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
7.45%
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%
$1,482,520
$1.5M
Cap Rate 7%
$1,058,943
$1.1M
Cap Rate 9%
$823,622
$823.6K
Market Conditions
NOI Build-Up for 4,332 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
$117.0K $27.00/SF
− Vacancy
−$18.1K −$4.19/SF
EGI
$98.8K $22.81/SF
− OpEx
−$24.7K −$5.70/SF
NOI
$74.1K $17.11/SF
Area
Bristol County, RI
Vacancy
15.50%
Lease Rate
$27.00 /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%
$1,482,520
Cap Rate 7%
$1,058,943
Cap Rate 9%
$823,622
Alternative Uses
Best Use
Office B
$1.06M
$926.6K – $1.24M
NOI $74,126 @ 7.0% cap · market cap 7.45%
Second Best
Healthcare Medical
$984.3K
$861.3K – $1.15M
NOI $68,900 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,450 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Explore this area
Business Placement
Demographics for 02885, RI
11,147
Population
5,546
Households
2
Avg Household Size
47
Median Age
36%
College-Educated
90%
High-School Grad
6.2 sq mi
ZIP Area
1,798
Density / Sq Mi
$89,722
Median Household Income
$53,980
Median Earnings
$1,253
Median Rent
$363,900
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?
Mixed-use property - Fully occupied property combines a dental practice with two private-entry office suites and on-site parking.
Where is this mixed-use property located?
The property is located at 634 Main Street Warren, RI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,332‑square‑foot mixed‑use commercial property on a 0.36‑acre lot; Fully occupied by a dental practice and two lower‑level office suites; Two office suites feature separate private entrances
