Retail Space with
For Sale
$975,000
1620 Post Road, Warwick, RI 02888
Commercial/Business,Commercial Sale, Warwick, RI
Property Size4,360 SF
Lot Size0.58 Acres
Price / SF$223.62
Days on Market100
Property Features for 1620 Post Road
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
25
Interior features
Ceiling Height (9 to 12 Ft)
Basement
Full
Subdivision
Post Road
Lot features
Free Standing, Strip Store
Standard status
Active
Size
4,360 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12578
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1960
Floors in Building
1
Number of units
1
Building materials
Brick, Masonry
Listing Agency:
Center Place Realty & Investm.
(401) 943-9797
Listed By:
Anthony Caprio
(401) 943-9797
Added: May 19
Changed: Aug 19
Last Checked: Aug 26 at 3:06AM
MLS# 1412984
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,360-square-foot retail property occupies 0.58 acres and currently operates as an auto supply store. The building dates to 1960 and includes a basement, brick and masonry construction, ceiling heights ranging from 9 to 12 feet, central air conditioning, and forced-air heating. Public sewer service supports the existing commercial improvements.
The property is located at 1620 Post Road in Warwick, along a heavily traveled commercial corridor with established businesses and surrounding residential neighborhoods. Major highway access is nearby, supporting customer and employee connectivity. The existing structure may accommodate retail, service, showroom, medical, professional office, restaurant, or mixed-use concepts, subject to local approvals.
The property is located at 1620 Post Road in Warwick, along a heavily traveled commercial corridor with established businesses and surrounding residential neighborhoods. Major highway access is nearby, supporting customer and employee connectivity. The existing structure may accommodate retail, service, showroom, medical, professional office, restaurant, or mixed-use concepts, subject to local approvals.
Key Highlights
- 4,360‑square‑foot retail property on 0.58 acres
- Existing auto supply store operation at 1620 Post Road, Warwick, RI 02888
- Brick and masonry building constructed in 1960
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
—
—
no second resolved use
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
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
109k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 39%
Apparel 6%
Home Improvements & Furnishings 3%
Cumberland Farms
Shops & Services
22,185 visits/mo
0.2 miles
Dunkin' Donuts
Dining
14,600 visits/mo
0.1 miles
Burger King
Dining
13,038 visits/mo
0.2 miles
IHOP
Dining
10,387 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
8,376 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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Frequently Asked Questions
What type of property is this?
Retail space - Existing commercial building with flexible retail potential, central air, forced-air heat, and public sewer service.
Where is this retail space located?
The property is located at 1620 Post Road 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: 4,360‑square‑foot retail property on 0.58 acres; Existing auto supply store operation at 1620 Post Road, Warwick, RI 02888; Brick and masonry building constructed in 1960
