Mixed-Use Investment
643-653 East Avenue Warwick, RI 02886
For Sale
$3,200,000
Multi-building mixed-use portfolio with retail, office, and apartment units totaling 13,722 SF.
Property Size13,722 SF
Lot Size0.42 Acres
Price / SF$233.20
Days on Market97
Property Features for 643-653 East Avenue
General Information
Standard status
Active
Size
13,722 SF
Lot size
0.42 Acres
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
Remax Revolution
Listed By:
Michael Alves
(401) 521-9490
Source:
Cthomeseekers
Added: Apr 22
Changed: Jul 24
Last Checked: Jul 26 at 10:38PM
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 Remax Revolution
Investment Insights
Based on property information with market context.
This for-sale mixed-use investment portfolio consists of multiple buildings totaling 13,722 SF. The offering includes 6 retail units, 14 office units, and 12 apartment units, plus a separate two-family property at 72 Baker St.
The buildings are located along East Avenue in Warwick, with accessibility highlighted in the seller’s remarks.
The portfolio is presented as a diversified income stream combining retail, office, and residential components, with the seller noting value-add potential through rent increases and leasing. Owner financing is available according to the remarks.
The buildings are located along East Avenue in Warwick, with accessibility highlighted in the seller’s remarks.
The portfolio is presented as a diversified income stream combining retail, office, and residential components, with the seller noting value-add potential through rent increases and leasing. Owner financing is available according to the remarks.
Key Highlights
- Owner financing available for this mixed‑use portfolio offered at $3,600,000
- Total building area: 13,722 SF across multiple buildings
- Lot area: 18,295.2 SF total
Financial Insights For Apartment 5plus
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 | $357.3k | $26.04 |
| − Vacancy | −$24.3k | −$1.77 |
| EGI | $333.0k | $24.27 |
| − OpEx | −$149.9k | −$10.92 |
| NOI | $183.2k | $13.35 |
13,722 SF · lease $26.04/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.62M
$2.29M – $3.05M
NOI $183,163 @ 7.0% cap · market cap 5.72%
Second Best
Retail
$2.53M
$2.22M – $2.96M
NOI $177,383 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$3.44M
$3.01M – $4.01M
NOI $240,574 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-building mixed-use portfolio with retail, office, and apartment units totaling 13,722 SF.
Where is this mixed-use property located?
The property is located at 643-653 East Avenue Warwick, RI.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Owner financing available for this mixed‑use portfolio offered at $3,600,000; Total building area: 13,722 SF across multiple buildings; Lot area: 18,295.2 SF total
