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    Versatile Post Road Commercial Building Title is generated by Realmo AI

    1620 Post Road Warwick, Warwick, RI 02888

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    New
    For Sale
    $975,000

    Freestanding commercial building currently operating as an auto supply store, suited for retail, office, showroom, or restaurant uses.

    Property size:
    4,360 SF
    Price / SF:
    $223/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 2:36 am

    Property Features for 1620 Post Road Warwick

    General Information

    Standard status
    Active
    Size
    4,360 SF

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Ashley Paiva

    Listing agent Ashley Paiva

    Listing office

    Listing date Jun 3, 2026

    Source Milestonerealtyinc

    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

    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
    • Positioned for convenient access for both customers and employees
    • Surrounded by established businesses and dense residential neighborhoods

    Overview

    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.

    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 $104.6k $24.00
    − Vacancy −$2.7k −$0.62
    EGI $101.9k $23.38
    − OpEx −$25.5k −$5.84
    NOI $76.4k $17.53
    4,360 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.09M
    $955.5K – $1.27M (±1% cap)
    NOI $76,440 @ 7.0% cap · market cap 7.84%
    Second Best
    Healthcare Medical
    $933.4K
    $816.7K – $1.09M (±1% cap)
    NOI $65,335 @ 7.0% cap · market cap 6.70%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Post Road Auto ... Auto Parts Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Gill Services — 1177 Jefferson Blvd, Warwick, RI 02886
    • The Battery Shop — 2411 Post Rd, Warwick, RI 02886
    • Sullivan Tire Wholesale — 1102 Jefferson Blvd, Warwick, RI 02886
    • Sullivan Tire Commercial Truck Center — 1199 Jefferson Blvd, Warwick, RI 02886
    • Sullivan Tire & Auto Service — 1102 Jefferson Blvd, Warwick, RI 02886

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4338697
    Latitude
    41.7368375

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    FAQs

    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
    (508) 501-1443
    We can help!
    Listing Contact
    Ashley Paiva
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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