Mixed-Use Building with
For Sale
$625,000
681 Providence Street, West Warwick, RI 02893
Restaurant/café space and two residential units create a combined commercial and residential configuration.
Property Size2,728 SF
Lot Size0.34 Acres
Price / SF$229.11
Days on Market54
Property Features for 681 Providence Street
General Information
Standard status
Active
Size
2,728 SF
Lot size
0.34 Acres
Property subtype
Commercial
Building Details
Year Built
1931
Buildings
1
Listing Agency:
REMAX Revolution
(401) 921-5011
Listed By:
Michael Alves · License #REB.0014141
(401) 523-9555
Source:
Lockandkeyre
Added: Aug 13
Changed: Oct 4
Last Checked: Oct 4 at 10:16AM
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.
Located at 681 Providence Street in West Warwick, this mixed-use property combines a restaurant/café component with two one-bedroom apartments. The arrangement places commercial and residential uses within a single 2,728-square-foot building, providing a practical live/work format and separate residential accommodations.
Built in 1931, the property occupies a 0.34-acre lot in West Warwick. The restaurant/café space is established within the building, while the apartment component adds two residential units to the overall configuration. This combination supports a property profile that includes both business space and residential occupancy in one commercial real estate asset.
Built in 1931, the property occupies a 0.34-acre lot in West Warwick. The restaurant/café space is established within the building, while the apartment component adds two residential units to the overall configuration. This combination supports a property profile that includes both business space and residential occupancy in one commercial real estate asset.
Key Highlights
- 2,728 SF mixed‑use building on a 0.34‑acre lot
- Restaurant/café space included in the property
- Two one‑bedroom residential apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,827
Cap Rate
7.65%
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 7.65%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 5.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
668
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant/café space and two residential units create a combined commercial and residential configuration.
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 $625,000.
What are key features of this property?
This property features: 2,728 SF mixed‑use building on a 0.34‑acre lot; Restaurant/café space included in the property; Two one‑bedroom residential apartments
