303 Jefferson Blvd Warwick, RI 02888-3845

Property Details for 303 Jefferson Blvd

Year built

1976

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.45 lot acres

Property size

9,933 SF

Zone code

LI

Property type

Showrooms

APN

WARW M:282 B:0045 L:0000

APU

WARWM282B0045L0000

Description

This exceptional investment opportunity presents a three-story, 108,989 square foot Class A office building situated at 303 Jefferson Blvd, Warwick, RI, 02888. The property boasts a 9.66% cap rate and a strong net operating income (NOI) of $140,101, with a 100% occupancy rate across eleven tenants under corporate guarantees and a modified lease structure. Built in 1976, this stabilized, value-added investment features 9,933 net rentable square feet, distributed across three units, with a price per square foot of $13.30 and a total asking price of $1,450,000. The property sits on a 19,602 square foot lot and includes 40 parking spaces. The building is zoned L1 and benefits from three percent annual rent bumps. Current tenants, primarily law offices, are long-term and show interest in continued tenancy, offering a stable income stream and potential for future growth. Financial projections are available to qualified buyers. The property offers a compelling opportunity for immediate income and potential for value enhancement through strategic leasing and minor improvements. This is a rare opportunity to acquire a well-maintained, high-performing office building in a desirable Warwick location.

Location Insight

City

Warwick

County

Kent

State

Rhode Island

Longitude

-71.4396

Latitude

41.7393

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments