Two-Storefront Retail
New
For Sale
$600,000
71 Tiogue Avenue, West Warwick, RI 02893
An operating laundromat occupies one unit, while the second storefront is vacant.
Property Size3,120 SF
Price / SF$192.31
Days on Market4
Property Features for 71 Tiogue Avenue
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
1970
Listing Agency:
JPAR Prime Real Estate
(401) 388-4830
Listed By:
Andrew Hogan · License #RES.0045067
(401) 588-2002
Source:
Lockandkeyre
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:25AM
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 JPAR Prime Real Estate
Investment Insights
Based on property information with market context.
This 3,120-square-foot retail property at 71 Tiogue Avenue in West Warwick contains two storefronts. An operating laundromat occupies one, and the other is vacant. The building dates to 1970.
The property is offered with the laundromat business as well as the real estate. The available storefront provides a separate commercial space alongside the existing laundry operation.
The property is offered with the laundromat business as well as the real estate. The available storefront provides a separate commercial space alongside the existing laundry operation.
Key Highlights
- Two storefronts within a 3,120‑square‑foot building
- Operating laundromat business and real estate offered together
- Second storefront is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,332
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,640
$806.6K
Cap Rate 7%
$576,171
$576.2K
Cap Rate 9%
$448,133
$448.1K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$59.2K $18.96/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$57.6K $18.47/SF
− OpEx
−$17.3K −$5.54/SF
NOI
$40.3K $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%
$806,640
Cap Rate 7%
$576,171
Cap Rate 9%
$448,133
Alternative Uses
Best Use
Retail
$576.2K
$504.2K – $672.2K
NOI $40,332 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$781.4K
$683.8K – $911.7K
NOI $54,700 @ 7.0% cap · market cap 9.12%
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
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Dining 18%
Family Dollar
Shops & Services
6,084 visits/mo
0.4 miles
Domino's Pizza
Dining
1,540 visits/mo
0.4 miles
H&R Block
Shops & Services
972 visits/mo
0.4 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 - An operating laundromat occupies one unit, while the second storefront is vacant.
Where is this storefront property located?
The property is located at 71 Tiogue Avenue West Warwick, RI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two storefronts within a 3,120‑square‑foot building; Operating laundromat business and real estate offered together; Second storefront is vacant
