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    1251 Warwick Ave Warwick, RI 02888

    For Sale
    $3,500,000

    Iconic Restaurant, High Traffic, Ample Parking

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a beloved, established restaurant at 1251 Warwick Avenue, Warwick, RI 02888. The property boasts a substantial 35,719.2 square foot lot and includes two buildings constructed in 1940. The sale encompasses the entire business, including all equipment, point-of-sale systems, and furniture. The property offers significant upside potential. Currently operating as a successful restaurant with a steady cash flow, it features over 40 parking spaces. There's unused space readily adaptable into a private banquet or function room, plus additional loft space with the potential for conversion into a residential unit. Existing connections and a partial bath are already in place, facilitating future expansion. The equipment is in excellent condition, reflecting the high standards of cleanliness and organization maintained by the current owners. The experienced and dedicated staff express a strong desire to remain with the new owner. This landmark property offers a unique chance to acquire a thriving business with substantial growth opportunities. Professional photographs will be available shortly. Asking price: $3,500,000.

    Property Features for 1251 Warwick Ave

    General Information

    Property type
    Restaurants

    Building Details

    Year Built
    1940
    Buildings
    2
    Units
    1

    HighLights

    • $3,500,000 asking price.
    • Land and retail property with two buildings on a 35,719.2 sq ft lot.
    • Located at 1251 Warwick Avenue, Warwick, RI 02888.
    • Established restaurant with 40+ parking spaces and strong cash flow.
    • Includes all buildings, business, equipment, POS system, and furniture.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Governor Francis Inn ... American Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4081445
    Latitude
    41.7422853

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    FAQs

    What type of property is this?
    Restaurant - Iconic Restaurant, High Traffic, Ample Parking
    Where is this restaurant located?
    The property is located at 1251 Warwick Ave Warwick, RI.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: $3,500,000 asking price.; Land and retail property with two buildings on a 35,719.2 sq ft lot.; Located at 1251 Warwick Avenue, Warwick, RI 02888.
    Request Owner's contact information
    1251 Warwick Ave Warwick, RI 02888
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    Warwick, RI 02888
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    Realmo Value Estimation

    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.

    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.

    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
    1251 Warwick Ave Warwick, RI 02888
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