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    1497 Centerville Rd Warwick, RI 02886

    For Sale
    $629,900

    COMMERCIAL - Warwick, RI

    Lot size:
    0.64 Acres
    Days on Market:
    89
    Last Refresh:
    Dec 13 at 4:06 pm

    Property Features for 1497 Centerville Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Parking
    12
    Lot size
    0.64 Acres

    Building Details

    Year built
    1925

    Davelen, Inc., dba RE/MAX Professionals (401) 884-6050 [email protected]

    Listing agent Robert Rinn (401) 633-5788

    Listing date Sep 16, 2025

    Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Warwick Multifamily Investment Opportunity

    This property features five units spread across two buildings, situated on approximately 0.64 acres of land. The front building contains two units: one two-bedroom unit and one four-bedroom unit that requires renovation. The rear building houses three two-bedroom units. The property currently generates $5,800 in rental income, with the four-bedroom unit vacant. The potential market rent is estimated at $7,400. All units have separate utilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.515025
    Latitude
    41.696494

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    FAQs

    What type of property is this?
    Apartment building - Five units across two buildings on nearly an acre.
    Where is this apartment building located?
    The property is located at 1497 Centerville Rd Warwick, RI.
    What is the asking price?
    The asking price for this property is $629,900.
    What are key features of this property?
    This property features: - 5-unit property on nearly an acre of land; - Potential to increase rental income to $7,400; - Two buildings: one with two units, the other with three units
    (401) 633-5788
    Request Owner's contact information
    1497 Centerville Rd Warwick, RI 02886
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    Warwick, RI 02886
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1497 Centerville Rd Warwick, RI 02886
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