Corner Commercial Building and
1593 Centerville Road Warwick Warwick, RI 02886
1593 Centerville Road Warwick, Warwick, RI, 02886
$1,350,000
For Sale
$1,350,000
Mixed-use corner parcels include a former bar/restaurant, a two-unit residential building, and dedicated parking.
Property Size6,215 SF
Price / SF$217.22
Days on Market46
Property Features for 1593 Centerville Road Warwick
General Information
- Standard status
- Active
- Size
- 6,215 SF
Building Details
- Year Built
- 1950
Listing Agency
(508) 501-1443
Listed by
Michele Costa
(508) 501-1443
Source
Milestonerealtyinc
Added: Jun 3 Checked: Jul 17 at 2:36 am
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 Michele Costa
Investment Insights
Based on property information with market context.
This sale includes three separate parcels totaling a corner opportunity at the intersection of Centerville Road and New London Avenue in Warwick. New London Avenue parcel (M:251 L:100) is 0.13 acres and currently serves as parking for the property at 1593 Centerville Road.
1593 Centerville Road is a former bar/restaurant with 2,034 sq. ft. of above-grade space and 1,473 sq. ft. in the basement. Also included is 1585 Centerville Road, a two-unit residential building with one bedroom and one bathroom in each unit. The residential building contains approximately 1,704 sq. ft. above grade and includes a full 1,004 sq. ft. basement.
With both commercial and residential components on a corner lot, the property is well suited for an owner looking to operate or renovate a mixed-use asset. The on-site parking parcel supports practical day-to-day use for the commercial structure and the overall site layout, giving the owner a straightforward way to manage multiple property types within the same acquisition.
1593 Centerville Road is a former bar/restaurant with 2,034 sq. ft. of above-grade space and 1,473 sq. ft. in the basement. Also included is 1585 Centerville Road, a two-unit residential building with one bedroom and one bathroom in each unit. The residential building contains approximately 1,704 sq. ft. above grade and includes a full 1,004 sq. ft. basement.
With both commercial and residential components on a corner lot, the property is well suited for an owner looking to operate or renovate a mixed-use asset. The on-site parking parcel supports practical day-to-day use for the commercial structure and the overall site layout, giving the owner a straightforward way to manage multiple property types within the same acquisition.
Key Highlights
- Three‑parcel mixed‑use property at 1593–1595 Centerville Rd and New London Ave in Warwick, RI
- New London Ave parcel (M:251 L:100) is 0.13 acres and currently serves as parking for 1593 Centerville Rd
- 1593 Centerville Rd: former bar/restaurant with 2,034 sq. ft above grade plus a 1,473 sq. ft basement
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $149.2k | $24.00 |
| − Vacancy | −$3.9k | −$0.62 |
| EGI | $145.3k | $23.38 |
| − OpEx | −$36.3k | −$5.84 |
| NOI | $109.0k | $17.53 |
6,215 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $108,961 @ 7.0% cap · market cap 8.07%
Second Best
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,303 @ 7.0% cap · market cap 6.69%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Mixed-use corner parcels include a former bar/restaurant, a two-unit residential building, and dedicated parking.
Where is this duplex located?
The property is located at 1593 Centerville Road Warwick Warwick, RI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Three‑parcel mixed‑use property at 1593–1595 Centerville Rd and New London Ave in Warwick, RI; New London Ave parcel (M:251 L:100) is 0.13 acres and currently serves as parking for 1593 Centerville Rd; 1593 Centerville Rd: former bar/restaurant with 2,034 sq. ft above grade plus a 1,473 sq. ft basement
