Multi-Tenant Retail
650 Greenwich Avenue Warwick, RI 02886
650 Greenwich Avenue, Warwick, RI, 02886
$1,500,000
For Sale
$1,500,000
Multi-tenant retail building with strong Greenwich Ave visibility and on-site parking on a commercial lot.
Property Size5,208 SF
Lot Size0.23 Acres
Price / SF$288.02
Days on Market76
Property Features for 650 Greenwich Avenue
General Information
- Standard status
- Active
- Size
- 5,208 SF
- Lot size
- 0.23 Acres
- Property subtype
- Shopping Center / Retail
Building Details
- Year Built
- 1971
Listing agency
RE/MAX
(401) 523-9555
Listed by
Michael Alves · License #REC.0016995
(401) 523-9555
Source
Remaxcommercial
Added: May 7 Updated: Jul 21 at 1:13PM Checked: Jul 21 at 1:13PM
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
Investment Insights
Based on property information with market context.
This is a 5,208 SF multi-tenant retail building situated on a 10,018.8 SF lot. The property is arranged as a multi-tenant layout, offering multiple spaces within one retail building.
Located in Warwick along a well-traveled commercial corridor on Greenwich Ave, the site benefits from visibility and accessibility from the street. The property also includes an on-site lot with ample frontage.
The offering presents an investor or owner-user opportunity, with potential to pursue lease-up and rent growth at the time of ownership.
Located in Warwick along a well-traveled commercial corridor on Greenwich Ave, the site benefits from visibility and accessibility from the street. The property also includes an on-site lot with ample frontage.
The offering presents an investor or owner-user opportunity, with potential to pursue lease-up and rent growth at the time of ownership.
Key Highlights
- 5,208 SF multi‑tenant retail building built in 1971
- Located in Warwick on Greenwich Ave along a well‑traveled commercial corridor
- 10,018.8 SF lot with ample frontage and on‑site parking
Local Financial Insights For 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 | $98.7k | $18.96 |
| − Vacancy | −$2.6k | −$0.49 |
| EGI | $96.2k | $18.47 |
| − OpEx | −$28.9k | −$5.54 |
| NOI | $67.3k | $12.93 |
5,208 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$961.8K
$841.5K – $1.12M
NOI $67,323 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,307 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Set The Barre
Training Center
Bella Lina Salon
Hair Salon
Soriya Nails & Spa
Nail Salon
Hair N Now
Hair Salon
Cuts 2000
Hair Salon
Similar For Sale Nearby
Similar Off Market Nearby
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- Shops at Greenwood — 545 Greenwich Ave, Warwick, RI 02886
FAQs
What type of property is this?
Shopping center - Multi-tenant retail building with strong Greenwich Ave visibility and on-site parking on a commercial lot.
Where is this shopping center located?
The property is located at 650 Greenwich Avenue Warwick, RI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 5,208 SF multi‑tenant retail building built in 1971; Located in Warwick on Greenwich Ave along a well‑traveled commercial corridor; 10,018.8 SF lot with ample frontage and on‑site parking
