Standalone Storefront
New
For Sale
$159,000
693 Providence St, West Warwick, RI 02893
The compact commercial building is configured as a hair salon and includes a half bath.
Property Size1,935 SF
Price / SF$441.67
Days on Market5
Property Features for 693 Providence St
General Information
Standard status
Active
Size
1,935 SF
Property subtype
Commercial
Zoning
B
Building Details
Building Size
1,935 SF
Year Built
1935
Buildings
1
Tenancy
Single
Listing Agency:
Remax Revolution
(401) 921-5011
Listed By:
Michael Alves · License #REB.0014141
(401) 523-9555
Source:
Iverty
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 12 at 7:38PM
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 standalone storefront at 693 Providence Street in West Warwick is a 360± SF commercial building dating to 1935. Its current configuration serves as a hair salon, with a half bath. The property is zoned B and is being offered as building and real estate only.
The building sits beside West Warwick Fire Department Station 3 on Providence Street.
The building sits beside West Warwick Fire Department Station 3 on Providence Street.
Key Highlights
- 360± SF standalone commercial building
- B zoning
- Currently configured as a hair salon with a half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,654
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$93,080
$93.1K
Cap Rate 7%
$66,486
$66.5K
Cap Rate 9%
$51,711
$51.7K
Market Conditions
NOI Build-Up for 360 SF
Gross rent
$6.8K $18.96/SF
− Vacancy
−$177 −$0.49/SF
EGI
$6.6K $18.47/SF
− OpEx
−$2.0K −$5.54/SF
NOI
$4.7K $12.93/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$93,080
Cap Rate 7%
$66,486
Cap Rate 9%
$51,711
Alternative Uses
Best Use
Retail
$66.5K
$58.2K – $77.6K
NOI $4,654 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$90.2K
$78.9K – $105.2K
NOI $6,312 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
246k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 28%
Electronics 2%
Apparel 2%
McDonald's
Dining
47,348 visits/mo
0.4 miles
Hobby Lobby
Shops & Services
37,107 visits/mo
0.4 miles
Wendy's
Dining
29,276 visits/mo
0.3 miles
Taco Bell
Dining
21,562 visits/mo
0.3 miles
BJ's Restaurant and Brewhouse
Dining
18,940 visits/mo
0.5 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - The compact commercial building is configured as a hair salon and includes a half bath.
Where is this storefront property located?
The property is located at 693 Providence St West Warwick, RI.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 360± SF standalone commercial building; B zoning; Currently configured as a hair salon with a half bath
