Commercial Real Estate Market in Warwick, RI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
189 active listings and 2,804 off-market properties in Warwick, RI. Commercial property asks $197/SF to buy and $17.88/SF/Yr to lease.
Market Trends
Warwick, RI spans 30.1 square miles in Kent County, Rhode Island. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Warwick, RI asks $175/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Warwick, RI runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Warwick, RI runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Warwick, RI asks $226/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 67.7%
- Industrial 11.7%
- Commercial 10.9%
- Agricultural 9.6%
- Mixed use 0.2%
Largest Zones share of zoned land by district
Residence A 7 District
Residence A 40 District
Residence A 10 District
Open Space District
Residence A 15 District
Warwick, RI zones 22,749 acres across 14 districts. Commercial zoning covers 10.9% of zoned land, residential 67.7% and industrial 11.7%. The largest single district is Residence A 7 District at 28.7%. For commercial buyers the practical constraint is that only 22.6% of land carries a commercial or industrial designation.
Residence A 7 District (A-7)
A-10, A-7, O, WB, GB, LI, GI. 200.108. Nightclub. A retail establishment that stays open late at night and provides food, beverages and entertainment, but shall not include adult entertainment. 200.109. Nonconformance. A building, structure, or parcel of land, or use thereof, lawfully existing at the time of the adoption or amendment of this zoning ordinance…
Market overview
Demographics & Economy
Warwick, RI has 77,228 residents in 34,733 households. Density runs 2,562 people per square mile. Median household income here is $88,473 and median gross rent $1,248 a month.
77,228
Population
34,733
Households
2.2
Avg Household Size
45
Median Age
32%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
2,562
Density / Sq Mi
$88,473
Median Household Income
$52,856
Median Earnings
$1,248
Median Rent
$317,636
Median Home Value
Tools
Lease vs Buy Breakeven
At $17.88/SF/Yr lease vs $197/SF buy → buying wins if held > 1.7 years.
At a 9.1% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| East Providence | $194 (county avg) | $15.48 |
| Providence | $194 (county avg) | $27.13 |
| Cranston | $194 (county avg) | $18.44 |
Commercial property in Warwick, RI asks $197/SF. The 3 bordering markets run from $194/SF in East Providence to $194/SF in East Providence, and the city sits in line with their $194/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Warwick?
Commercial property in Warwick, RI asks an average of $197 per square foot. The 6 most recent recorded sales traded at a median of $241/SF. Multifamily carries the highest asking price at $226/SF.
How much does it cost to lease commercial space in Warwick?
Asking lease rates in Warwick, RI average $17.88 per square foot per year.
Is it cheaper to lease or buy commercial space in Warwick?
Buying beats leasing in Warwick, RI if the property is held longer than 1.7 years, comparing $17.88/SF/Yr asking rent with $197/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
How does Warwick compare to nearby markets on price?
Warwick, RI asks $197/SF against $194/SF in East Providence, $194/SF in Providence and $194/SF in Cranston. East Providence is the cheapest entry point at 1% below Warwick pricing, with $15.48/SF/Yr asking rents.
What zoning applies to commercial property in Warwick?
Warwick, RI zones 22,749 acres across 14 districts, of which 10.9% is commercial and 11.7% industrial. The largest single district is Residence A 7 District at 28.7% of zoned land. A-10, A-7, O, WB, GB, LI, GI. 200.108. Nightclub. A retail establishment that stays open late at night and provides food, beverages and entertainment, but shall not include adult entertainment. 200.109. Nonconformance. A building, structure, or parcel of land, or use thereof, lawfully existing at the time of the adoption or amendment of this zoning ordinance… Residential zoning covers 67.7% and open space 0%.
Where does Realmo's Warwick market data come from?
Realmo compiles Warwick, RI figures from 6 recent recorded sales, 103 active sale listings, 86 active lease listings, 2,804 tracked off-market properties, the current Warwick zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 103 active for-sale and 86 active for-lease listings in Warwick, RI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 22,749 zoned acres across 14 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
