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Glenham Building 103 Glenham Ave 6,900 SF 100% Leased Industrial Building Warwick, RI 02886 $1,250,000 ($181.16/SF) 6% Cap Rate
Investment Highlights
- Grow with Warwick's City Centre, close to everything !
Executive Summary
Clean, well built, 2 unit flex space in Warwick's City Centre, Intermodal Redevelopment District. Just steps from parking garage, airport, train station, Rt. 95, restaurants, and hundred of rooms and new apartments. Special District zoning allows many uses, but no industrial. New in 2022: lighting, paint inside and out, flooring, fans, heat upgrades, electric, upgrades. Great income or owner occupied. Lease/tenant negotiable.
The site to the south is planned for a 200+ room extended stay, over 200 new apartments just built at the onramp; and this recent announcement:
Warwick Beacon article about former Leesona site, 297 apartments, restaurant, and parking garage on Jefferson Blvd. https://www.facebook.com/WarwickBeacon/posts/michael-integlia-is-ready-to-dig-into-the-development-that-could-be-the-keystone/1142303174573409/
City Centre/Intermodal District : allows building up to 5 stories, encourages retail, restaurants, cafe's, and walkable community
https://www.citycentrewarwick.com/news-and-events
Learn more about this area's developments:
https://www.google.com/search
q=what+new+developments+are+planned+for+Rhode+Island+%2FGreene+State+Airport+area%2C+also+known+as+Intermodal+district%2C+and+city+centre%3F&sca_esv=70ae562eabb258c3&udm=50&fbs=ADc_l-aN0CWEZBOHjofHoaMMDiKp0UJuhqwKhR0QUhF54-6jIZ4fQLFxpd-X3cjBjwn-bveY3JtHHw9t0-P88yah9ue3UfvSjKCxfhocWx9tszCeWrLv-lowAONU4C7LkqSa-ZpHcPUHYOzGY9vMPG3tz3AYybnFPdI5Oe4UwrVSWV81c3JCJdIlesl20oBxkSx1dr5vHi7bncBdNtbTp954g66xZ6DaYQ&aep=1&ntc=1&sa=X&ved=2ahUKEwiUjN2R9YOSAxUEQjABHZa8KNoQ2J8OegQIFBAE&biw=1920&bih=953&dpr=1&aic=0&mstk=AUtExfB1RpTHdrczaQdDrEBqQexkf01a-yzcLIWGJG5lWHJdGW3fVQ3P7uFhwninl_YFZSYxV2t1UFWgoyN-0G_Vnbyx3O-RRI9Bd0BXdMox_3i6yUf7CDaqtEqUYGD-eeLC44U7yK7qwNJ4xyBZWhZ3r0OpNNNDQIb-lAA&csuir=1
The site to the south is planned for a 200+ room extended stay, over 200 new apartments just built at the onramp; and this recent announcement:
Warwick Beacon article about former Leesona site, 297 apartments, restaurant, and parking garage on Jefferson Blvd. https://www.facebook.com/WarwickBeacon/posts/michael-integlia-is-ready-to-dig-into-the-development-that-could-be-the-keystone/1142303174573409/
City Centre/Intermodal District : allows building up to 5 stories, encourages retail, restaurants, cafe's, and walkable community
https://www.citycentrewarwick.com/news-and-events
Learn more about this area's developments:
https://www.google.com/search
q=what+new+developments+are+planned+for+Rhode+Island+%2FGreene+State+Airport+area%2C+also+known+as+Intermodal+district%2C+and+city+centre%3F&sca_esv=70ae562eabb258c3&udm=50&fbs=ADc_l-aN0CWEZBOHjofHoaMMDiKp0UJuhqwKhR0QUhF54-6jIZ4fQLFxpd-X3cjBjwn-bveY3JtHHw9t0-P88yah9ue3UfvSjKCxfhocWx9tszCeWrLv-lowAONU4C7LkqSa-ZpHcPUHYOzGY9vMPG3tz3AYybnFPdI5Oe4UwrVSWV81c3JCJdIlesl20oBxkSx1dr5vHi7bncBdNtbTp954g66xZ6DaYQ&aep=1&ntc=1&sa=X&ved=2ahUKEwiUjN2R9YOSAxUEQjABHZa8KNoQ2J8OegQIFBAE&biw=1920&bih=953&dpr=1&aic=0&mstk=AUtExfB1RpTHdrczaQdDrEBqQexkf01a-yzcLIWGJG5lWHJdGW3fVQ3P7uFhwninl_YFZSYxV2t1UFWgoyN-0G_Vnbyx3O-RRI9Bd0BXdMox_3i6yUf7CDaqtEqUYGD-eeLC44U7yK7qwNJ4xyBZWhZ3r0OpNNNDQIb-lAA&csuir=1
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$90,000
|
$13.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$90,000
|
$13.04
|
| Taxes |
$11,000
|
$1.59
|
| Operating Expenses |
$6,000
|
$0.87
|
| Total Expenses |
$17,000
|
$2.46
|
| Net Operating Income |
$73,000
|
$10.58
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $90,000 |
| Annual Per SF | $13.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $90,000 |
| Annual Per SF | $13.04 |
| Taxes | |
|---|---|
| Annual | $11,000 |
| Annual Per SF | $1.59 |
| Operating Expenses | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $0.87 |
| Total Expenses | |
|---|---|
| Annual | $17,000 |
| Annual Per SF | $2.46 |
| Net Operating Income | |
|---|---|
| Annual | $73,000 |
| Annual Per SF | $10.58 |
Property Facts
| Price | $1,250,000 | Lot Size | 0.23 AC |
| Price Per SF | $181.16 | Rentable Building Area | 6,900 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 6% | Year Built/Renovated | 1970/2021 |
| Sale Condition | Redevelopment Project | Parking Ratio | 1.16/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 16’ |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 2 |
| Building Class | B | ||
| Zoning | INTERMODEL Redevelopment - City Centre/Intermodal District | ||
| Price | $1,250,000 |
| Price Per SF | $181.16 |
| Sale Type | Investment or Owner User |
| Cap Rate | 6% |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 0.23 AC |
| Rentable Building Area | 6,900 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2021 |
| Parking Ratio | 1.16/1,000 SF |
| Clear Ceiling Height | 16’ |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | INTERMODEL Redevelopment - City Centre/Intermodal District |
Amenities
- 24 Hour Access
- Bus Line
- Mezzanine
- Fluorescent Lighting
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- RE Antiques and Furnsihings
- Wholesaler
- 6,900 SF
- $13.00
- Modified Gross
- Mar 2027
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| RE Antiques and Furnsihings | Wholesaler | 6,900 SF | $13.00 | Modified Gross | Mar 2027 |
1 1
Property Taxes
| Parcel Number | WARW-000323-000299-000000 | Total Assessment | $458,400 |
| Land Assessment | $108,000 | Annual Taxes | $11,000 ($1.59/SF) |
| Improvements Assessment | $350,400 | Tax Year | 2025 |
Property Taxes
Parcel Number
WARW-000323-000299-000000
Land Assessment
$108,000
Improvements Assessment
$350,400
Total Assessment
$458,400
Annual Taxes
$11,000 ($1.59/SF)
Tax Year
2025
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Glenham Building | 103 Glenham Ave
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