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    52 Providence St Providence St West Warwick, RI 02893

    Sponsored
    For Sale
    $1,400,000

    Established Restaurant, Huge Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional commercial property, located at 52 Providence Street in West Warwick, Rhode Island, presents a unique investment opportunity. The property encompasses two lots totaling 39,248 square feet, offering ample space for a variety of uses. A well-established Chinese-American restaurant, operating successfully since 1984, occupies the main building. This two-story building, constructed in 1965, boasts 150 seats and 80 parking spaces. A complete renovation in 2020 ensures modern amenities and updated facilities. The restaurant holds a full liquor license and benefits from its prime location within a densely populated residential and business district. The property's strategic positioning adjacent to the Washington Secondary Bike Trail presents additional revenue opportunities. A full basement provides substantial storage, and the expansive parking lot offers significant development potential. The asking price is $1,400,000. This property is zoned for commercial use, including restaurant and bar operations. The property includes two parcels: 017-0044 (0.558 acres) and 017-0187 (0.343 acres). The zip code is 02893.

    Property Features for 52 Providence St Providence St

    General Information

    Property type
    Restaurants

    Building Details

    Year Built
    1965
    Buildings
    1
    Stories
    2

    HighLights

    • Exceptional investment opportunity: 39,248 SF two‑lot property in West Warwick, RI (02893).
    • Established Chinese‑American restaurant (est. 1984) with 150 seats and full liquor license.
    • Two‑story, 1965 building, completely renovated in 2020, with 80 parking spaces and full basement.
    • Prime location in dense residential/business district, adjacent to Washington Secondary Bike Trail.
    • Asking price: $1,400,000. Zoned for commercial use (restaurant/bar). Parcels: 017‑0044 & 017‑0187.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    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
    West Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.5214377
    Latitude
    41.7100207

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    FAQs

    What type of property is this?
    Restaurant - Established Restaurant, Huge Potential
    Where is this restaurant located?
    The property is located at 52 Providence St Providence St West Warwick, RI.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 39,248 SF two-lot property in West Warwick, RI (02893).; Established Chinese-American restaurant (est. 1984) with 150 seats and full liquor license.; Two-story, 1965 building, completely renovated in 2020, with 80 parking spaces and full basement.
    Request Owner's contact information
    52 Providence St Providence St West Warwick, RI 02893
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    West Warwick, RI 02893
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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
    52 Providence St Providence St West Warwick, RI 02893
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