West Warwick Commercial Investment
923 Main Street, West Warwick, RI 02893
COMMERCIAL - West Warwick, RI
Property size:
4,360 SFLot size:
0.31 AcresPrice / SF:
$205/SF- Added:
- Mar 28, 2026
- Days on Market:
- 57
- Last Refresh:
- May 23 at 3:06 am
Property Features for 923 Main Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B
- Parking
- 55
- Security features
- Security
- Interior features
- Ceiling Height (7 to 9 Ft), Ceiling Height (12 to 15 Ft)
- Standard status
- Active
- Size
- 4,360 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Year
- 2021
- Tax Annual Amount
- 15498
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard
- Cooling system
- Central Air
Building Details
- Year built
- 1978
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Brick, Frame, Masonry
Listing agent David Tatangelo License #S29833 (508) 543-3922
Listing office Re/Max Real Estate Center 37 Sandy Bottom Road, Foxboro, RI (401) 823-7600
Listing date Mar 28, 2026
MLS# 1408573
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
- Profitable restaurant/ice cream business included.
- Second building has a strong, long‑term lease in place with a physical therapy office.
- Two investment properties included in the sale.
- First building has a brand new roof and siding.
- Second building is a large, all‑brick building with a full basement for potential expansion or storage.
- High traffic location close to all amenities.
Overview
This offering presents an opportunity to acquire two investment properties, including a restaurant and ice cream business. The first building features a new roof and siding and is configured as a seasonal ice cream parlor and restaurant. It includes a single level, a walk-up window, a commercial kitchen, an updated dining room, and parking. The second building is a 2,328-square-foot, single-level brick structure with a full basement that offers potential for expansion or storage. The property is currently leased to Bay State Physical Therapy as a medical office space under a long-term lease. The location benefits from high traffic and proximity to amenities. The total property size is 4,360 square feet on a 0.308-acre lot. The zoning is B.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$849.3K
NOI $76,440 @ 9.00% cap · cautious / downside scenario
Moderate
$1.09M
NOI $76,440 @ 7.00% cap · market / base-case scenario
Aggressive
$1.53M
NOI $76,440 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.6k | $24.00 |
| − Vacancy | −$2.7k | −$0.62 |
| EGI | $101.9k | $23.38 |
| − OpEx | −$25.5k | −$5.84 |
| NOI | $76.4k | $17.53 |
4,360 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.09M
$955.5K – $1.27M
NOI $76,440 @ 7.0% cap · market cap 8.53%
Second Best
Healthcare Medical
$933.4K
$816.7K – $1.09M
NOI $65,335 @ 7.0% cap · market cap 7.29%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Bay State Physical ...
Medical Clinic
Similar Places Nearby
- DE Vine Foods — 1143 Main St, West Warwick, RI 02893
- Just Like Mom's Meal Prep — 11 Curson St, West Warwick, RI 02893
- Iil Rhody Catering — 60 Clyde St, West Warwick, RI 02893
- Millonzi Fine Catering — 11 Curson St, West Warwick, RI 02893
- Touch of Class Catering — 1143 Main St, West Warwick, RI 02893
Location Insight
- Map
- Local Demand
- City
- West Warwick
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.524414
- Latitude
- 41.717618
Nearby Similar for Sale
FAQs
What type of property is this?
Restaurant - Two investment properties with a profitable restaurant and medical office.
Where is this restaurant located?
The property is located at 923 Main Street West Warwick, RI.
What is the asking price?
The asking price for this property is $895,900.
What are key features of this property?
This property features: Profitable restaurant/ice cream business included.; Second building has a strong, long‑term lease in place with a physical therapy office.; Two investment properties included in the sale.
