Renovated Commercial Building on
For Sale
$349,900
1692 Warwick Avenue, Warwick, RI 02889
Completely renovated commercial building with high traffic exposure.
Property Size1,200 SF
Days on Market174
Property Features for 1692 Warwick Avenue
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,502
Building Details
Building Size
1,200 SF
Year Built
1971
Buildings
1
Units
1
Listing Agency:
RE/MAX Revolution
(401) 574-0216
Listed By:
Ralph Buontempo · License #S28667
(401) 574-0216
Source:
Liongatere
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 11 at 2:50PM
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 RE/MAX Revolution
Investment Insights
Based on property information with market context.
This commercial, free-standing building on Warwick Avenue has been completely renovated, both interior and exterior. Renovations include a new roof, vinyl siding, electric, plumbing, central air, and flooring. The property benefits from extremely high traffic exposure. This turnkey property offers opportunities for an owner-occupied business or rental.
Key Highlights
- Completely renovated interior and exterior.
- Turn‑key condition.
- New roof, vinyl siding, electric, plumbing, central air, and flooring.
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
$15,512
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
4.43%
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%
$310,240
$310.2K
Cap Rate 7%
$221,600
$221.6K
Cap Rate 9%
$172,356
$172.4K
Market Conditions
NOI Build-Up for 1,200 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
$22.8K $18.96/SF
− Vacancy
−$592 −$0.49/SF
EGI
$22.2K $18.47/SF
− OpEx
−$6.6K −$5.54/SF
NOI
$15.5K $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%
$310,240
Cap Rate 7%
$221,600
Cap Rate 9%
$172,356
Alternative Uses
Best Use
Retail
$221.6K
$193.9K – $258.5K
NOI $15,512 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$300.5K
$263.0K – $350.6K
NOI $21,038 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
106k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Groceries 29%
Superstores 21%
Shops & Services 17%
Stop & Shop
Groceries
30,382 visits/mo
0.1 miles
Big Lots
Superstores
22,403 visits/mo
0.0 miles
McDonald's
Dining
21,422 visits/mo
0.2 miles
Dunkin' Donuts
Dining
10,458 visits/mo
0.1 miles
Stop & Shop Gas
Shops & Services
8,981 visits/mo
0.2 miles
Demographics for 02889, RI
28,277
Population
11,947
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
3,327
Density / Sq Mi
$85,617
Median Household Income
$50,988
Median Earnings
$1,216
Median Rent
$299,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Completely renovated commercial building with high traffic exposure.
Where is this storefront property located?
The property is located at 1692 Warwick Avenue Warwick, RI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Completely renovated interior and exterior.; Turn‑key condition.; New roof, vinyl siding, electric, plumbing, central air, and flooring.
