Two-Unit Strip Center Retail
16 Freeborne Street Warwick, RI 02889
For Sale
$279,000
Two currently vacant units in a strip center with more than 30 parking spaces and 10 assigned to the units.
Property Size1,260 SF
Price / SF$221.43
Days on Market10
Property Features for 16 Freeborne Street
General Information
Standard status
Active
Size
1,260 SF
Property subtype
General Commercial
Building Details
Year Built
1986
Listing Agency:
CYCAD REALTY, LLC
(508) 863-0508
Listed By:
Marong Tho
(508) 863-0508
Source:
Xome
Added: Jul 20
Changed: Jul 26
Last Checked: Jul 28 at 4:10AM
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 CYCAD REALTY, LLC
Investment Insights
Based on property information with market context.
This property is a two-unit retail space within a strip center, with both units currently empty and available for new occupancy. The configuration is designed to support flexible commercial use, including retail, food service, or office operations.
The center is described as a high-visibility retail location surrounded by popular retailers and well-known chain tenants, including Subway, Rite Aid, Burger King, TD Bank, and Dunkin' Donuts. Parking is available across the center, with more than 30 spaces total, and 10 of those spaces assigned to the two units.
For buyers or tenants seeking a straightforward two-suite opportunity in a retail-focused shopping center, this offering provides a clear starting point with on-site parking dedicated to the units.
The center is described as a high-visibility retail location surrounded by popular retailers and well-known chain tenants, including Subway, Rite Aid, Burger King, TD Bank, and Dunkin' Donuts. Parking is available across the center, with more than 30 spaces total, and 10 of those spaces assigned to the two units.
For buyers or tenants seeking a straightforward two-suite opportunity in a retail-focused shopping center, this offering provides a clear starting point with on-site parking dedicated to the units.
Key Highlights
- Two versatile commercial units in a strip center, both currently vacant
- More than 30 parking spaces total, with 10 assigned to the two units
- 3 guest facilities
Financial Insights For 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 | $23.9k | $18.96 |
| − Vacancy | −$621 | −$0.49 |
| EGI | $23.3k | $18.47 |
| − OpEx | −$7.0k | −$5.54 |
| NOI | $16.3k | $12.93 |
1,260 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$232.7K
$203.6K – $271.5K
NOI $16,288 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$315.6K
$276.1K – $368.2K
NOI $22,090 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Strip mall - Two currently vacant units in a strip center with more than 30 parking spaces and 10 assigned to the units.
Where is this strip mall located?
The property is located at 16 Freeborne Street Warwick, RI.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two versatile commercial units in a strip center, both currently vacant; More than 30 parking spaces total, with 10 assigned to the two units; 3 guest facilities
