East Providence Insulated Warehouse For
For Sale
Contact for pricing
66 Valley St, East Providence, RI
6,612 SF insulated warehouse, fully leased until 2029.
Property Size6,612 SF
Lot Size1.09 Acres
Price / SF$166.36
Days on Market533
Property Features for 66 Valley St
General Information
Standard status
Active
Size
6,612 SF
Lot size
1.09 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Sweeney Real Estate &Appraisal
(401) 523-5101
Listed By:
Thomas O Sweeney
(401) 523-5101
Source:
Moodyscre
Added: Feb 20, 2025
Changed: Jul 10
Last Checked: Aug 7 at 9:07AM
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 Sweeney Real Estate &Appraisal
Investment Insights
Based on property information with market context.
The property at 66 Valley Street, East Providence, Rhode Island, features a 6,612 square foot building on approximately 0.63 acres of land. Constructed in 2005, the property is zoned Bold Point Harbor District (BPH). The building is visible from I-195 and provides quick access to I-195, I-95, downtown Providence, and Seekonk, Massachusetts. It is currently 100% leased until August 2029. The building is set up for movie production and includes soundproofing and insulation. It is fully air-conditioned and equipped with 400 amp/3-phase electrical service. The property includes one grade-level door, one loading dock, and over 30 parking spaces. Ceiling heights range from 20 to 24 feet.
Key Highlights
- 100% Leased Until 08/2029: Provides immediate income.
- Visible from I‑195: High visibility location.
- 6,612± SF Building on 0.63± Acres: Substantial building size.
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
$41,899
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
3.81%
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%
$837,980
$838.0K
Cap Rate 7%
$598,557
$598.6K
Cap Rate 9%
$465,544
$465.5K
Market Conditions
NOI Build-Up for 6,612 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
$49.6K $7.50/SF
− Vacancy
−$298 −$0.05/SF
EGI
$49.3K $7.46/SF
− OpEx
−$7.4K −$1.12/SF
NOI
$41.9K $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%
$837,980
Cap Rate 7%
$598,557
Cap Rate 9%
$465,544
Alternative Uses
Best Use
Warehouse
$598.6K
$523.7K – $698.3K
NOI $41,899 @ 7.0% cap · market cap 3.81%
Second Best
Industrial
$492.9K
$431.3K – $575.1K
NOI $34,505 @ 7.0% cap · market cap 3.14%
Theoretical Best
Multifamily LT 5
$1.57M
$1.38M – $1.83M
NOI $110,093 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 - 6,612 SF insulated warehouse, fully leased until 2029.
Where is this warehouse located?
The property is located at 66 Valley St East Providence, RI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 100% Leased Until 08/2029: Provides immediate income.; Visible from I‑195: High visibility location.; 6,612± SF Building on 0.63± Acres: Substantial building size.
