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    1201 Warwick Ave Warwick, RI 02888

    For Sale
    $2,777,176

    NNN lease with value-add potential near Rhode Island airport.

    Property size:
    11,200 SF
    Lot size:
    0.96 Acres

    Property Features for 1201 Warwick Ave

    General Information

    Size
    11,200 SF
    Lot size
    0.96 Acres

    Source: Marcus & Millichap Agent Jonathan Silver

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Walgreens NNN Lease Opportunity

    This property features a 5.5+ year absolute NNN lease paid by Walgreens CO., meaning no landlord responsibilities. The location benefits from high-density New England real estate with a population north of 200,000 within a 5-mile radius and traffic counts exceeding 25,000 vehicles per day. Strong middle-class demographics are present, with an average household income of $94,000+ within a 1-mile radius. The large lot provides repositioning opportunities, adding value to the property. It is shadow-anchored by the Rhode Island TF Green International Airport, which serves 4 million passengers annually. The property contains 11,200 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Family Dollar Dollar Store Amazon Locker - Iysa Shipping And Mailing Service Western Union Money Transfer Service ATM Atm higi Health Consultant

    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.

    Similar Places Nearby

    Walgreens Pharmacy, COVID-19 Drive-Thru Testing at Walgreens, Noemi Ramos-Desimone, Jennifer Maybaum

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4080246
    Latitude
    41.7435873

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    FAQs

    What type of property is this?
    Drug store - NNN lease with value-add potential near Rhode Island airport.
    Where is this drug store located?
    The property is located at 1201 Warwick Ave Warwick, RI.
    What is the asking price?
    The asking price for this property is $2,777,176.
    What are key features of this property?
    This property features: - Absolute NNN Lease with Walgreens CO. - No Landlord Responsibilities; - High Density New England Location - Population North of 200,000 in a 5 Mile Radius; - Shadow Anchored by Rhode Island TF Green International Airport (4 million passengers annually)
    (818) 212-2700
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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
    1201 Warwick Ave Warwick, RI 02888
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