Restaurant Opportunity Near Green
1278 Post Road, Warwick, RI 02888
For Sale
Contact for pricing
Family-run restaurant with liquor license, parking, and storage.
Property Size4,000 SF
Price / SF$181.25
Days on Market768
Property Features for 1278 Post Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Building Details
Year Built
Buildings
Stories
Listing Agency:
Circle 100 Real Estate
Listed By:
Shuman Hsia · License RI RES.0040696
(401) 227-7501
Source:
Crexi
Added: Oct 5, 2024
Changed: Aug 8
Last Checked: Jul 9 at 1:06AM
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 Circle 100 Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This long-standing family-run Chinese restaurant, established in 1974 and located in the Norwood area near Green Airport, is available for purchase. The property features 2,000 square feet of open space on the first floor, designed with an easy-flow layout. A full 2,000-square-foot basement provides substantial storage capacity. The restaurant has a seating capacity of 70 and includes 28 parking spaces on a double lot. Situated in a central location within the state, the property offers convenient access to Interstate 95 and Interstate 295, and is located 5 minutes from Green International Airport. The property is suitable for conventional restaurants, retail space, office space, and other commercial real estate ventures. Recent improvements include a new roof and pavement in 2023.
Key Highlights
- Established Chinese restaurant with liquor license operating since 1974.
- 2000 sq ft open space on the first floor with easy flow layout.
- Convenient location with easy access to I‑95 and I‑295, and 5 minutes to Green International Airport.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,708
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,034,160
$1.0M
Cap Rate 7%
$738,686
$738.7K
Cap Rate 9%
$574,533
$574.5K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$75.8K $18.96/SF
− Vacancy
−$2.0K −$0.49/SF
EGI
$73.9K $18.47/SF
− OpEx
−$22.2K −$5.54/SF
NOI
$51.7K $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%
$1,034,160
Cap Rate 7%
$738,686
Cap Rate 9%
$574,533
Alternative Uses
Best Use
Specialty Retail
$1.00M
$876.6K – $1.17M
NOI $70,128 @ 7.0% cap · market cap 9.67%
Second Best
Retail
$738.7K
$646.4K – $861.8K
NOI $51,708 @ 7.0% cap · market cap 7.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
$318,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Conventional restaurants in Kent County, RI
Properties on Market for Conventional restaurants in Kent County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Family-run restaurant with liquor license, parking, and storage.
Where is this conventional restaurant located?
The property is located at 1278 Post Road Warwick, RI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Established Chinese restaurant with liquor license operating since 1974.; 2000 sq ft open space on the first floor with easy flow layout.; Convenient location with easy access to I‑95 and I‑295, and 5 minutes to Green International Airport.
