For Sale
$2,100,000

400 Frenchtown RdEast Greenwich, RI 02818

Class A Office, 20,000 SF, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A office building, located at 400 Frenchtown Road in East Greenwich, Rhode Island, presents a compelling investment opportunity. The property boasts a substantial 20,000 square feet of space, currently fully leased to two tenants. One tenant is a national credit tenant, and the anchor tenant operates three locations globally, providing strong financial stability and predictable income streams. The building sits on a generous 6.13-acre lot, offering ample parking with 38 designated spaces and excellent truck circulation. Logistics are streamlined with four tailboard docks and two drive-in doors. The interior features a desirable 17'-18' clear height, and the two units are fully separated for utility independence. The property is zoned M/LI and offers a compelling 6.92% capitalization rate, generating a Net Operating Income (NOI) of $145,251.25. The asking price is $2,100,000. This presents a rare opportunity to acquire a high-quality, fully leased office building in a desirable Rhode Island location with significant upside potential. The property's strong tenant base, ample parking, and efficient layout make it an ideal investment for discerning buyers seeking stable returns and long-term growth. The strategic location in Kent County, with easy access to major transportation routes, further enhances its appeal.

Highlights

  • $2,100,000 asking price for this Class A office building.
  • 20,000 square feet of office space.
  • 6.92% cap rate with a $145,251.25 NOI.
  • Two units in a fully leased building.
  • Located on a 6.13-acre lot in East Greenwich, RI, with 38 parking spaces and ample truck circulation.
  • Features include four tailboard docks, two drive-in doors, and 17'-18' clear height.

Property Details for 400 Frenchtown Rd

Property type
Office properties
Square Feet
20,000 SF
Class
A
Lot Size (sq. ft)
267,023 SF
Units
2

Location Insight

City
East Greenwich
County
Kent
State
Rhode Island
Latitude
41.6275481
Longitude
-71.4828146
400 Frenchtown Rd, East Greenwich, Rhode Island

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400 Frenchtown Rd
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