Rhode Island’s nickname is “The Ocean State,” as there are so many bays and inlets in this geographical location. As a result, much of the Rhode Island commercial real estate listings will be located near water. As of the census estimate in 2005, the state had a population of 1,076,189 people.
Those looking for investment property in Rhode Island will find that the largest population centers include Providence, Warwick, and Cranston, with populations of 178,042, 82,672 and 80,387 respectively. The state has 39 cities and towns.
The economy of Rhode Island has changed over the years. The modern economic infrastructure is based on healthcare, education and manufacturing. In previous centuries, this area was influential due to its large textile industry and waterpower resources. Around the industrial revolution, industrial space in Rhode Island was also dedicated to tool making, silverware and jewelry making. Much of this industrial space was more recently converted into other types of buildings including condos, museums, office space and low-income housing.