Mixed-Use Property with
For Sale
$649,000
681 Providence Street West, Warwick, RI 02893
Restaurant space is paired with two one-bedroom apartments for combined commercial and residential use.
Property Size2,728 SF
Lot Size0.34 Acres
Price / SF$237.90
Days on Market51
Property Features for 681 Providence Street West
General Information
Standard status
Active
Size
2,728 SF
Class
B
Lot size
0.34 Acres
Property subtype
Mixed Use
Zoning
B
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Building Size
2,728 SF
Year Built
1931
Buildings
1
Listing Agency:
RE/MAX
Listed By:
Michael Alves · License #REB.0014141
(401) 523-9555
Source:
Remaxcommercial
Added: Aug 16
Changed: Sep 10
Last Checked: Oct 4 at 6:13AM
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 mixed-use property combines restaurant or café space with two one-bedroom residential apartments, creating a single building with both commercial and residential components. The property includes 2,728± SF of building area on a 0.34± acre lot and was constructed in 1931.
Located at 681 Providence Street in West Warwick, the property is zoned B and offers a configuration suited to an owner-user or investor seeking restaurant space alongside residential units. The restaurant may be purchased separately at an additional cost, subject to confirmation with the listing agent.
Located at 681 Providence Street in West Warwick, the property is zoned B and offers a configuration suited to an owner-user or investor seeking restaurant space alongside residential units. The restaurant may be purchased separately at an additional cost, subject to confirmation with the listing agent.
Key Highlights
- 2,728± SF mixed‑use building on a 0.34± acre lot
- Restaurant or café space included
- Two 1‑bedroom residential apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,827
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,540
$956.5K
Cap Rate 7%
$683,243
$683.2K
Cap Rate 9%
$531,411
$531.4K
Market Conditions
NOI Build-Up for 2,728 SF
Gross rent
$65.5K $24.00/SF
− Vacancy
−$1.7K −$0.62/SF
EGI
$63.8K $23.38/SF
− OpEx
−$15.9K −$5.84/SF
NOI
$47.8K $17.53/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,540
Cap Rate 7%
$683,243
Cap Rate 9%
$531,411
Alternative Uses
Best Use
Specialty Retail
$683.2K
$597.8K – $797.1K
NOI $47,827 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 5.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space is paired with two one-bedroom apartments for combined commercial and residential use.
Where is this mixed-use property located?
The property is located at 681 Providence Street West Warwick, RI.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2,728± SF mixed‑use building on a 0.34± acre lot; Restaurant or café space included; Two 1‑bedroom residential apartments
