245 Washington Street, West Warwick, RI 02893
COMMERCIAL - West Warwick, RI
- Added:
- Jul 20, 2025
- Days on Market:
- 343
- Last Refresh:
- Jun 27 at 4:06 pm
Property Features for 245 Washington Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B - ADCD
- Rooms
- Basement
- Parking
- 30
- Interior features
- Ceiling Height (9 to 12 Ft)
- Basement
- Crawl Space
- Standard status
- Active
- Size
- 4,023 SF
- Lot size
- 0.38 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 11539
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 1
- Number of units
- 1
- Building materials
- Brick, Masonry
Listing agent Michael Russo License #REB.0017244 (401) 465-0417
Listing office Ri Real Estate Services 631 Main Street, East Greenwich, RI (401) 885-5400
Listing date Jul 20, 2025
Copyright © 2026 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.
HighLights
- Business, Real Estate & Inventory Included: Acquire a fully operational business, property, and inventory.
- Established Business with Full Liquor License: Benefit from a long‑standing business, loyal clientele, and a valuable full liquor license.
- High‑Visibility Corner Lot with Ample Parking: Prominent corner location and abundant parking enhance accessibility.
- 4,000+ SF Commercial Building with Full Commercial Kitchen: Spacious building equipped with a complete commercial kitchen and sound system.
- All Public Utilities & Recent Updates: Connected to all public utilities, young roof, recent updates, and fire coded.
- Potential for Increased Sales: Existing business has demonstrated potential for further revenue growth.
Overview
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.6k | $24.00 |
| − Vacancy | −$2.5k | −$0.62 |
| EGI | $94.0k | $23.38 |
| − OpEx | −$23.5k | −$5.84 |
| NOI | $70.5k | $17.53 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Bee’s Mobile Bartending LLC — Mobile Location, West Warwick, RI 02893
- JW's PUB — 433 Washington St, Coventry, RI 02816
- Boneheads Wing Bar — 131 Washington St, West Warwick, RI 02893
- Borowski's Cafe — 1626 Main St, West Warwick, RI 02893
- Hour Bar — 1193 Main St, West Warwick, RI 02893
Location Insight
- Map
- Local Demand
- City
- West Warwick
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.528768
- Latitude
- 41.700647
