Retail Suite with Storefront
1237 West Shore Road #2, Warwick, RI 02889
For Sale
New
Contact for pricing
The open layout is part of a neighborhood commercial center occupied by a tattoo studio and salon.
Property Size1,300 SF
Price / SF$1.69
Days on Market7
Property Features for 1237 West Shore Road #2
General Information
Standard status
Size
Property subtype
Amenities
open flexible floor plan
large storefront windows
abundant natural light
excellent street visibility
Building Details
Year Built
Tenancy
Listing Agency:
RE/MAX Professionals
(401) 884-6050
Listed By:
Juli McIntosh · License RI RES.0044817
(401) 954-4880
Source:
Lockandkeyre
Added: Nov 5
Changed: Nov 10
Last Checked: Nov 10 at 2:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Professionals
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Investment Insights
Based on property information with market context.
This 1,300-square-foot retail suite at 1237 West Shore Road, Suite 2, has an open floor plan and large storefront windows. The commercial center was built in 1960, and customer parking is positioned directly in front of the space. The suite is the center’s final available unit, alongside a tattoo studio and salon.
The gross lease includes property taxes, building insurance, water, sewer, and property maintenance; the tenant is responsible for electricity. Additional signage may be possible with approval. Coffee, bakery, specialty retail, beauty and wellness services, massage, and professional office uses are identified as possibilities, subject to landlord approval and municipal regulations.
The gross lease includes property taxes, building insurance, water, sewer, and property maintenance; the tenant is responsible for electricity. Additional signage may be possible with approval. Coffee, bakery, specialty retail, beauty and wellness services, massage, and professional office uses are identified as possibilities, subject to landlord approval and municipal regulations.
Key Highlights
- 1,300‑square‑foot open retail suite
- Large storefront windows bring natural light into the space
- Customer parking is directly in front of the suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,805
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,100
$336.1K
Cap Rate 7%
$240,071
$240.1K
Cap Rate 9%
$186,722
$186.7K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$24.6K $18.96/SF
− Vacancy
−$641 −$0.49/SF
EGI
$24.0K $18.47/SF
− OpEx
−$7.2K −$5.54/SF
NOI
$16.8K $12.93/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,100
Cap Rate 7%
$240,071
Cap Rate 9%
$186,722
Alternative Uses
Best Use
Retail
$240.1K
$210.1K – $280.1K
NOI $16,805 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$325.6K
$284.9K – $379.9K
NOI $22,792 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Gulf Oil
Shops & Services
4,026 visits/mo
0.1 miles
Demographics for 02889, RI
28,277
Population
11,947
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
3,327
Density / Sq Mi
$85,617
Median Household Income
$50,988
Median Earnings
$1,216
Median Rent
$299,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Warwick, RI
Properties on Market for Retail space in Warwick
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - The open layout is part of a neighborhood commercial center occupied by a tattoo studio and salon.
Where is this retail space located?
The property is located at 1237 West Shore Road #2 Warwick, RI.
What are key features of this property?
This property features: 1,300‑square‑foot open retail suite; Large storefront windows bring natural light into the space; Customer parking is directly in front of the suite
