Bar and Restaurant Corner
245 Washington Street West Warwick, RI 02893
For Sale
Contact for pricing
Well-maintained corner lot property with a full commercial kitchen and walk-in refrigerator, set up for bar and lounge use.
Property Size4,023 SF
Price / SF$198.61
Days on Market254
Property Features for 245 Washington Street
General Information
Standard status
Active
Size
4,023 SF
Property subtype
RETAIL
Listing Agency:
RI Real Estate Services
(401) 465-0417
Listed By:
Michael Russo · License #REB.0017244
(401) 465-0417
Source:
Moodyscre
Added: Nov 18, 2025
Changed: Jul 26
Last Checked: Jul 29 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 RI Real Estate Services
Investment Insights
Based on property information with market context.
This sale includes business, real estate, and inventory. The property features a 4,000+ SF commercial building currently operating as a bar/lounge and billiard hall, with a full commercial kitchen and a walk-in refrigerator. The space is also equipped with a sound system for live music or a DJ setup. The business is L.A Cafe and includes a full liquor license alongside the existing commercial kitchen operations.
Located at 245 Washington Street in West Warwick, RI, the property sits on a highly visible corner lot with ample parking. The building is served by public water/sewer and gas, and the real estate is described as having a young roof, recent updates, and fire code compliance.
Please do not visit the business without a scheduled showing.
Located at 245 Washington Street in West Warwick, RI, the property sits on a highly visible corner lot with ample parking. The building is served by public water/sewer and gas, and the real estate is described as having a young roof, recent updates, and fire code compliance.
Please do not visit the business without a scheduled showing.
Key Highlights
- 4,000+ SF commercial building on a highly visible corner lot with ample parking
- Bar/lounging setup with full commercial kitchen and walk‑in refrigerator
- Sound system for live music/DJ included; building is fire coded
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 | $96.6k | $24.00 |
| − Vacancy | −$2.5k | −$0.62 |
| EGI | $94.0k | $23.38 |
| − OpEx | −$23.5k | −$5.84 |
| NOI | $70.5k | $17.53 |
4,023 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.01M
$881.6K – $1.18M
NOI $70,531 @ 7.0% cap · market cap 8.83%
Second Best
Industrial
$267.4K
$234.0K – $312.0K
NOI $18,718 @ 7.0% cap · market cap 2.34%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Bee’s Mobile Bartending LLC — Mobile Location, West Warwick, RI 02893
- JW's PUB — 433 Washington St, Coventry, RI 02816
- Boneheads Wing Bar — 131 Washington St, West Warwick, RI 02893
- Hour Bar — 1193 Main St, West Warwick, RI 02893
Frequently Asked Questions
What type of property is this?
Bar & Pub - Well-maintained corner lot property with a full commercial kitchen and walk-in refrigerator, set up for bar and lounge use.
Where is this bar & pub located?
The property is located at 245 Washington Street West Warwick, RI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 4,000+ SF commercial building on a highly visible corner lot with ample parking; Bar/lounging setup with full commercial kitchen and walk‑in refrigerator; Sound system for live music/DJ included; building is fire coded
