Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Mixed-Use Property with Development Potential Title is generated by Realmo AI

    1020 Warwick Avenue, Warwick, RI 02888

    View on Map
    Claim this Listing
    Pending
    $579,900

    MULTI_FAMILY - Warwick, RI

    Property size:
    2,380 SF
    Lot size:
    0.32 Acres
    Added:
    Mar 9, 2026
    Days on Market:
    69
    Last Refresh:
    May 16 at 1:06 am

    Property Features for 1020 Warwick Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bedroom 2, Basement, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1
    Parking
    8
    Parking features
    Garage
    Interior features
    Wall (Dry Wall), Wall (Plaster), Insulation (Unknown)
    Basement
    Partially Finished, Storage Space, Partial
    Appliances
    Gas Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
    Standard status
    Pending
    Size
    2,380 SF
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7475

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1965
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Carpet, Tile - Ceramic, Hardwood
    Building materials
    Dry Wall, Plaster, Brick, Vinyl Siding

    We can help!

    Listing Contact
    The Hiraldo Group

    Listing agent The Hiraldo Group

    Listing office Bhhs Commonwealth Real Estate 39 Main Street, Hopkinton, RI

    Listing date Mar 9, 2026

    MLS# 1406138 Listing URL

    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

    • Mixed‑use property with 3‑bed residence and commercial space
    • Two separate lots being sold together, including a possible buildable lot
    • High‑visibility location on Warwick Ave, ideal for business exposure
    • Spacious backyard with a large heated in‑ground pool
    • Partially finished basement providing versatility
    • Includes appliances: Gas Water Heater, Dishwasher, Microwave, Oven/Range, and Refrigerator

    Overview

    This mixed-use property in Warwick, RI, features a 3-bed, 1-bath residence and a commercial space, offering live-work convenience or rental income potential. A partially finished basement provides additional space for storage, workspace, or future expansion. The property, consisting of two separate lots being sold together, includes a possible buildable lot, creating potential for development or investment. Located on Warwick Ave, the commercial space benefits from traffic exposure. The residential portion includes a spacious backyard with a large heated in-ground pool. The property size is 2380 square feet on a 0.32-acre lot. This property is suitable for owner-occupants, entrepreneurs, and investors.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $353.0K
    NOI $31,768 @ 9.00% cap · cautious / downside scenario
    Moderate
    $453.8K
    NOI $31,768 @ 7.00% cap · market / base-case scenario
    Aggressive
    $635.4K
    NOI $31,768 @ 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 Apartment 5plus

    Component $ $/SF
    Gross rent $62.0k $26.04
    − Vacancy −$4.2k −$1.77
    EGI $57.8k $24.27
    − OpEx −$26.0k −$10.92
    NOI $31.8k $13.35
    2,380 SF · lease $26.04/SF/yr · vacancy 6.80% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $453.8K
    $397.1K – $529.5K (±1% cap)
    NOI $31,768 @ 7.0% cap · market cap 5.48%
    Second Best
    Retail
    $439.5K
    $384.6K – $512.8K (±1% cap)
    NOI $30,766 @ 7.0% cap · market cap 5.31%
    Theoretical Best
    Specialty Retail
    $596.1K
    $521.6K – $695.4K (±1% cap)
    NOI $41,726 @ 7.0% cap · market cap 7.20%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.404508
    Latitude
    41.74813

    Nearby Similar for Sale

    • $1,299,999
      2,928 SF

      Versatile Warwick Commercial Property

      High-visibility Warwick commercial property suitable for various uses.
      2871 Post Road, Warwick, RI 02886
      View Details
    • $2,500
      1,536 SF

      Restaurant Space in Warwick, RI

      1536 SF commercial space ideal for a restaurant.
      1690 W Shore Road, Warwick, RI 02889
      View Details
    • $400,000
      2,684 SF

      Multi-Unit Commercial Property in Warwick

      Versatile commercial property with three units and ample parking.
      2291 West Shore Road, Warwick, RI 02889
      View Details
    • $495,000
      1,537 SF

      Warwick Office/Retail Building For Sale

      Professional office/retail building in Warwick, RI, near TF Green Airport.
      1923 Post Road, Warwick, RI 02886
      View Details
    • $1.00
      7,870 SF

      Warwick Commercial Opportunity on Sandy

      7,870 sq ft commercial space on a 0.98-acre lot.
      449 Sandy Lane, Warwick, RI 02889
      View Details
    • $1,400,000
      7,870 SF

      Warwick Commercial Opportunity on Sandy

      7,870 sq ft commercial space on a 0.98-acre corner lot.
      449 Sandy Lane, Warwick, RI 02889
      View Details
    • $600
      300 SF

      Move-in-Ready Office in Warwick, RI

      Affordable office solution with functional amenities in a convenient location.
      422 Warwick Avenue, Warwick, RI 02888
      View Details
    • $325,000
      1,216 SF

      Freestanding Retail Building on Warwick

      High-visibility retail building in Warwick, ideal for owner-operator or investor.
      1926 Warwick Avenue, Warwick, RI 02889
      View Details
    • $1,850

      Warwick Commercial Tradesman Units Available

      Two joinable 1000 SF units with loading docks and amenities.
      140 Brownlee Boulevard, Warwick, RI 02886
      View Details
    • $195,000
      2,411 SF

      Warwick Office Condo For Sale

      Office condominium with easy highway access and customization potential.
      469 Centerville Road, Warwick, RI 02886
      View Details
    • $573,999
      2,072 SF

      Two Homes on One Lot

      Two single-family homes on one lot in Warwick, Rhode Island.
      283 Palmer Avenue, Warwick, RI 02889
      View Details
    • $22
      1,537 SF

      Professional Office/Retail Building For Sale

      Well-maintained office/retail building in Warwick, RI, near TF Green Airport.
      1923 Post Road, Warwick, RI 02886
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Live, work, and invest in this versatile Warwick property.
    Where is this mixed-use property located?
    The property is located at 1020 Warwick Avenue Warwick, RI.
    What is the asking price?
    The asking price for this property is $579,900.
    What are key features of this property?
    This property features: Mixed‑use property with 3‑bed residence and commercial space; Two separate lots being sold together, including a possible buildable lot; High‑visibility location on Warwick Ave, ideal for business exposure
    (508) 810-0700
    We can help!
    Listing Contact
    The Hiraldo Group
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1020 Warwick Avenue, Warwick, RI 02888
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!