Established Bar and Real
245 Washington Street West Warwick, RI 02893
245 Washington Street, West Warwick, RI, 02893
$799,000
For Sale
$799,000
Well-run bar/lounge with real estate and full liquor license.
Property Size4,000 SF
Price / SF$199.75
Days on Market364
Property Features for 245 Washington Street
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing Agency
RI Real Estate Services
(401) 465-0417
Listed by
Michael Russo · License #REB.0017244
(401) 465-0417
Source
Liongatere
Added: Jul 20, 2025 Checked: Jul 17 at 9:13 am
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 offering includes a business, real estate, and inventory. The real estate features a commercial building exceeding 4,000 square feet, currently operating as a bar, lounge, and billiard hall. It is equipped with a full commercial kitchen, walk-in refrigerator, and a sound system suitable for live music or a DJ. The property is situated on a highly visible corner lot and provides ample parking. It is connected to public utilities, including water, sewer, and gas. Additional features include a relatively new roof, recent updates, and compliance with fire codes. The business, L.A Cafe, has been a local establishment for many years and possesses a full liquor license and a solid client base. There is potential for increased sales. The property reflects pride of ownership.
Key Highlights
- Business, Real Estate & Inventory Included: Acquire a fully operational business along with the property.
- Established Business (L.A. Cafe): Long‑standing local business with a great client base.
- 4,000+ SF Commercial Building: Well‑maintained building operating as a bar/lounge/billiard hall.
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 | $96.0k | $24.00 |
| − Vacancy | −$2.5k | −$0.62 |
| EGI | $93.5k | $23.38 |
| − OpEx | −$23.4k | −$5.84 |
| NOI | $70.1k | $17.53 |
4,000 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.00M
$876.6K – $1.17M
NOI $70,128 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
L a Cafe
Bar & Pub
Similar For Sale Nearby
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
- Borowski's Cafe — 1626 Main St, West Warwick, RI 02893
- Hour Bar — 1193 Main St, West Warwick, RI 02893
FAQs
What type of property is this?
Bar & Pub - Well-run bar/lounge with real estate and full liquor license.
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: Business, Real Estate & Inventory Included: Acquire a fully operational business along with the property.; Established Business (L.A. Cafe): Long‑standing local business with a great client base.; 4,000+ SF Commercial Building: Well‑maintained building operating as a bar/lounge/billiard hall.
