Freestanding Corner
For Sale
$299,000
1822 Warwick Avenue, Warwick, RI 02889
Commercial/Business,Commercial Sale, Warwick, RI
Property Size864 SF
Lot Size0.17 Acres
Price / SF$346.06
Days on Market393
Property Features for 1822 Warwick Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GB
Rooms
Basement
Parking
20
Interior features
Ceiling Height (7 to 9 Ft)
Basement
Full
Subdivision
Warwick Avenue
Lot features
Corner Lot, Paved, Sidewalks, Free Standing, Suburban, Urban
Standard status
Active
Size
864 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4431
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Number of units
1
Building materials
Brick, Frame
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Michael Russo · License #REB.0018125
(401) 465-0417
Added: Sep 9, 2025
Changed: Sep 23
Last Checked: Oct 6 at 12:06AM
MLS# 1394701
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 freestanding storefront property occupies a 0.17-acre corner lot and contains 864 square feet of commercial space. The building was constructed in 1925 with brick and frame materials and is currently configured as a hair salon. Interior features include a basement and 7-to-9-foot ceiling height, with natural gas baseboard heat and wall-unit cooling.
Located at 1822 Warwick Avenue in Warwick, Rhode Island, the property has public water and public sewer service, along with natural gas connectivity. Parking is available on site, and the parcel includes room for expansion. GB zoning supports a range of business uses, including retail, hospitality, food and beverage, fitness, office, and other commercial applications.
Located at 1822 Warwick Avenue in Warwick, Rhode Island, the property has public water and public sewer service, along with natural gas connectivity. Parking is available on site, and the parcel includes room for expansion. GB zoning supports a range of business uses, including retail, hospitality, food and beverage, fitness, office, and other commercial applications.
Key Highlights
- 864 SF freestanding storefront on a 0.17‑acre corner lot
- GB zoning supports retail, hospitality, food and beverage, fitness, office, and other commercial uses
- Currently configured as a hair salon
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,169
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,380
$223.4K
Cap Rate 7%
$159,557
$159.6K
Cap Rate 9%
$124,100
$124.1K
Market Conditions
NOI Build-Up for 864 SF
Gross rent
$16.4K $18.96/SF
− Vacancy
−$426 −$0.49/SF
EGI
$16.0K $18.47/SF
− OpEx
−$4.8K −$5.54/SF
NOI
$11.2K $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 Rate 5%
$223,380
Cap Rate 7%
$159,557
Cap Rate 9%
$124,100
Alternative Uses
Best Use
Retail
$159.6K
$139.6K – $186.2K
NOI $11,169 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$216.4K
$189.4K – $252.5K
NOI $15,148 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
39k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 24%
Beauty & Spa 7%
Citizens Bank
Shops & Services
11,181 visits/mo
0.5 miles
Shell
Shops & Services
7,269 visits/mo
0.4 miles
Seasons Corner Market
Shops & Services
5,058 visits/mo
0.4 miles
D'Angelo Grilled Sandwiches
Dining
4,808 visits/mo
0.5 miles
Honey Dew Donuts
Dining
3,368 visits/mo
0.1 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - GB-zoned property with public utilities, parking, and existing salon improvements.
Where is this storefront property located?
The property is located at 1822 Warwick Avenue Warwick, RI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 864 SF freestanding storefront on a 0.17‑acre corner lot; GB zoning supports retail, hospitality, food and beverage, fitness, office, and other commercial uses; Currently configured as a hair salon
