Commercial Real Estate Market in West Warwick, RI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
82 active listings and 600 off-market properties in West Warwick, RI. Commercial property asks $237/SF to buy and $15.30/SF/Yr to lease.
Market Trends
West Warwick, RI spans 7.8 square miles in Kent County, Rhode Island. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in West Warwick, RI asks $150/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 West 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 West 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 West Warwick, RI asks $217/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
Market overview
Demographics & Economy
West Warwick, RI has 31,030 residents in 15,103 households. Density runs 3,962 people per square mile. Median household income here is $73,903 and median gross rent $1,249 a month.
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,962
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Tools
Lease vs Buy Breakeven
At $15.30/SF/Yr lease vs $237/SF buy → buying wins if held > 4.1 years.
At a 6.5% 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 |
|---|---|---|
| Cranston | $196 (county avg) | $18.23 |
| Scituate | $196 (county avg) | $18.50 |
| Johnston | $196 (county avg) | $23.68 |
| East Providence | $196 (county avg) | $15.19 |
Commercial property in West Warwick, RI asks $237/SF. The 4 bordering markets run from $196/SF in Cranston to $196/SF in Cranston, and the city sits above their $196/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in West Warwick?
Commercial property in West Warwick, RI asks an average of $237 per square foot. The 7 most recent recorded sales traded at a median of $109/SF, so asking sits 117% above the achieved median. Multifamily carries the highest asking price at $217/SF.
How much does it cost to lease commercial space in West Warwick?
Asking lease rates in West Warwick, RI average $15.30 per square foot per year.
Is it cheaper to lease or buy commercial space in West Warwick?
Buying beats leasing in West Warwick, RI if the property is held longer than 4.1 years, comparing $15.30/SF/Yr asking rent with $237/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 West Warwick compare to nearby markets on price?
West Warwick, RI asks $237/SF against $196/SF in Cranston, $196/SF in Scituate, $196/SF in Johnston and $196/SF in East Providence. Cranston is the cheapest entry point at 17% below West Warwick pricing, with $18.23/SF/Yr asking rents.
Where does Realmo's West Warwick market data come from?
Realmo compiles West Warwick, RI figures from 8 recent recorded sales, 56 active sale listings, 26 active lease listings, 600 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 56 active for-sale and 26 active for-lease listings in West 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.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 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, industrial vacancy is reported at Northeast region level and asking prices run materially above recent closed pricing.
- 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 30 September 2026 · How Realmo checks market page data · Report a data issue
