Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1584 Warwick Ave Warwick, RI 02889

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    3,152±SF retail/restaurant space with drive-thru at signalized intersection.

    Property Features for 1584 Warwick Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Thomas Sweeney
    Source: Crexi

    Listing Agency: Sweeney Real Estate Listing Agent: Thomas Sweeney

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail/Restaurant Space with Drive-Thru

    This 3,152±SF retail or restaurant space is located at the intersection of Airport Road and Warwick Avenue (RT 117A) in Hoxie Four Corners. The property benefits from a drive-thru and a signalized intersection. The location has a high traffic volume of 25,522. It is zoned General Business District (GB). Neighboring businesses include Metro PCS, Dave’s Market, Walgreens, D’Angelos, and Starbucks.
    Location Intelligence

    Current Use by Public Records

    Metro by T-Mobile Mobile Phone Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.406312
    Latitude
    41.7331531

    Nearby Similar for Lease

    • $2,500 /Mo
      1,536 SF

      Restaurant Space in Warwick Neck

      Ground-level commercial space ideal for a restaurant or diner.
      1690 Shore St W, Warwick, RI 02889
      View Details
    • $2,500 /Mo
      5,000 SF

      Warehouse and Office Space Available

      Warehouse/retail space with office, suitable for contractors.
      2121 Elmwood Ave, Warwick, RI 02888
      View Details
    • $25 SF/Yr
      750 SF

      Post Road Commercial Space Available

      750 SF commercial space for lease on Post Road.
      1293 Post Rd, Warwick, RI 02886
      View Details
    • $900 /Mo

      Recently Renovated Office Space

      Modern office space near airport and highways, ideal for collaboration.
      469 Centerville Rd, Warwick, RI 02886
      View Details
    • $26 SF/Yr
      1,537 SF

      Professional Office/Retail Building For Lease

      Well-maintained office/retail building in Warwick, near TF Green Airport.
      1923 Post Rd, Warwick, RI 02886
      View Details
    • $3,750 /Mo
      3,000 SF

      Professional Office Space Near Route 2

      Updated 3,000 SF office space available for lease.
      33 College Hill Rd, Warwick, RI 02886
      View Details
    • $2.00 SF/Yr
      2,243 SF

      Commercial Building Ready For Build-Out

      Commercial building ready for build-out, perfect for professional services.
      875 Centerville Rd, Warwick, RI 02886
      View Details
    • $600 /Mo
      500 SF

      Warwick Office Space For Rent

      Office space for rent near amenities and airport.
      133 Central St, Warwick, RI 02886
      View Details
    • $1,850 /Mo
      1,110 SF

      Elmwood Avenue Versatile Commercial Space

      Commercial space on high-traffic Elmwood Ave, suitable for various businesses.
      1708 Elmwood Ave, Warwick, RI 02888
      View Details
    • $500 /Mo

      Apponaug Center Office Spaces

      Sun-filled office spaces in central Apponaug, Warwick.
      3252 Post Rd, Warwick, RI 02886
      View Details
    • $700 /Mo

      Conveniently Located First Floor Office Unit

      Affordable, renewed office unit with shared amenities and ample parking.
      797 Bald Hill Rd, Warwick, RI 02886
      View Details
    • $600 /Mo

      Affordable First Floor Office Unit

      Conveniently located office unit with utilities included in rent.
      797 Bald Hill Rd, Warwick, RI 02886
      View Details

    FAQs

    What type of property is this?
    Retail property - 3,152±SF retail/restaurant space with drive-thru at signalized intersection.
    Where is this retail property located?
    The property is located at 1584 Warwick Ave Warwick, RI.
    What are key features of this property?
    This property features: - High Traffic Volume 25,522; - Features a convenient drive thru; - Located at a signalized intersection
    Request Owner's contact information
    1584 Warwick Ave Warwick, RI 02889
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1584 Warwick Ave
    Warwick, RI 02889
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1584 Warwick Ave Warwick, RI 02889
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Thomas Sweeney
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!