Versatile Post Road Commercial
For Sale
$975,000
1620 Post Road Warwick, Warwick, RI 02888
Freestanding commercial building currently operating as an auto supply store, suited for retail, office, showroom, or restaurant uses.
Property Size4,360 SF
Price / SF$223.62
Days on Market72
Property Features for 1620 Post Road Warwick
General Information
Standard status
Active
Size
4,360 SF
Total Parking Spaces
25
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,578
Building Details
Building Size
4,360 SF
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
(508) 501-1443
Listed By:
Ashley Paiva
(508) 501-1443
Source:
Milestonerealtyinc
Added: Jun 3
Changed: Aug 10
Last Checked: Aug 13 at 3:10AM
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 Ashley Paiva
Investment Insights
Based on property information with market context.
This freestanding commercial building is currently operating as an auto supply store. The property offers a versatile layout that can support a range of commercial uses, including retail, service, showroom, medical office, professional office, restaurant, or mixed-use concepts, subject to local approvals. The building’s existing use provides a practical baseline for an owner-operator, while redevelopment options are available for qualified buyers and developers.
Located at 1620 Post Road in Warwick, Rhode Island, the property benefits from direct roadway presence along Post Rd. It is described as having convenient access and visibility for customers and employees, and it sits within a commercial setting with established nearby businesses as well as surrounding residential neighborhoods.
For tenants, buyers, or developers looking for a flexible site, this property’s current automotive-oriented configuration may align with retail and service requirements, while the broader use range may fit medical and professional users as well. The opportunity is positioned for owner-user strategies, as well as investors or developers evaluating redevelopment potential, with final feasibility dependent on local approvals and permitting.
Located at 1620 Post Road in Warwick, Rhode Island, the property benefits from direct roadway presence along Post Rd. It is described as having convenient access and visibility for customers and employees, and it sits within a commercial setting with established nearby businesses as well as surrounding residential neighborhoods.
For tenants, buyers, or developers looking for a flexible site, this property’s current automotive-oriented configuration may align with retail and service requirements, while the broader use range may fit medical and professional users as well. The opportunity is positioned for owner-user strategies, as well as investors or developers evaluating redevelopment potential, with final feasibility dependent on local approvals and permitting.
Key Highlights
- Freestanding commercial building built in 1960 currently operating as an auto supply store
- Versatile setup suited for retail, office, showroom, or restaurant uses (subject to local approvals)
- Located on highly traveled Post Rd in Warwick, RI
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,361
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,127,220
$1.1M
Cap Rate 7%
$805,157
$805.2K
Cap Rate 9%
$626,233
$626.2K
Market Conditions
NOI Build-Up for 4,360 SF
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.
Gross rent
$82.7K $18.96/SF
− Vacancy
−$2.1K −$0.49/SF
EGI
$80.5K $18.47/SF
− OpEx
−$24.2K −$5.54/SF
NOI
$56.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,127,220
Cap Rate 7%
$805,157
Cap Rate 9%
$626,233
Alternative Uses
Best Use
Retail
$805.2K
$704.5K – $939.4K
NOI $56,361 @ 7.0% cap · market cap 5.78%
Second Best
Industrial
$289.8K
$253.6K – $338.1K
NOI $20,286 @ 7.0% cap · market cap 2.08%
Theoretical Best
Specialty Retail
$1.09M
$955.5K – $1.27M
NOI $76,440 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
95k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Dining 31%
Hotels & Casinos 28%
Home Improvements & Furnishings 3%
Wendy's
Dining
18,711 visits/mo
0.3 miles
Sunoco
Shops & Services
15,542 visits/mo
0.2 miles
Shell
Shops & Services
11,482 visits/mo
0.2 miles
Hampton Inn & Suites Providence/Warwick-Airport
Hotels & Casinos
6,403 visits/mo
0.1 miles
Fairfield Inn & Suites by Marriott Providence Airport Warwick
Hotels & Casinos
6,291 visits/mo
0.3 miles
Demographics for 02888, RI
19,578
Population
9,117
Households
2.1
Avg Household Size
46
Median Age
32%
College-Educated
96%
High-School Grad
5.9 sq mi
ZIP Area
3,318
Density / Sq Mi
$88,750
Median Household Income
$55,561
Median Earnings
$1,218
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Warwick Mobile Auto Mechanic — 1921 Post Rd, Warwick, RI 02886
- Warwick Mobile Truck & Trailer Repair — 28 Alhambra Rd, Warwick, RI 02886
- P J's Automotive Services — 30 coronado rd, warwick, ri 02886
- Andy's Audio & Auto Electric — 45 Montebello Rd, Warwick, RI 02886
- Hillsgrove Servicenter Inc — 1965 Post Rd, Warwick, RI 02886
Frequently Asked Questions
What type of property is this?
Auto shop - Freestanding commercial building currently operating as an auto supply store, suited for retail, office, showroom, or restaurant uses.
Where is this auto shop located?
The property is located at 1620 Post Road Warwick Warwick, RI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Freestanding commercial building built in 1960 currently operating as an auto supply store; Versatile setup suited for retail, office, showroom, or restaurant uses (subject to local approvals); Located on highly traveled Post Rd in Warwick, RI
