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    270 Post Rd Warwick, RI 02888

    Sponsored
    For Sale
    $2,699,000

    Prime 251K SF Land, 48-Unit Condo Plan Approved

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 251,776 square foot land parcel in Warwick, Rhode Island, presents a unique investment opportunity. Located at 270 Post Road, this property boasts fully approved plans for a 48-unit condominium complex, offering a blend of studio, one-bedroom, and two-bedroom units (5 studios, 38 one-bedrooms, and 5 two-bedrooms). The existing building, constructed in 1967, is a solid brick structure, requiring a complete interior build-out to realize the approved condo plan. This presents a significant value-add opportunity for a developer. The roof was recently replaced in 2020, eliminating a major capital expenditure. Detailed parking plans and layouts are readily available for review, providing a clear vision for the project's completion. Situated in Kent County, Warwick, RI, 02888, this property offers convenient access to local amenities and transportation. The approved plans, combined with the existing structure and recent roof replacement, significantly reduce the time and cost associated with bringing this project to fruition. This is an ideal opportunity for developers seeking a substantial project with pre-approved plans and a solid foundation. The asking price is $2,699,000.

    Property Features for 270 Post Rd

    General Information

    Property type
    Land

    Building Details

    Year Built
    1967
    Buildings
    1

    HighLights

    • $2,699,000 asking price.
    • 251,776 square foot land parcel.
    • Approved plans for a 48‑unit condo complex (5 studios, 5 two‑bedroom, 38 one‑bedroom).
    • Existing solid brick building requiring full interior build‑out.
    • Roof installed in 2020.
    • Parking plan and layout available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.3991009
    Latitude
    41.7618366

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    FAQs

    What type of property is this?
    Land - Prime 251K SF Land, 48-Unit Condo Plan Approved
    Where is this land located?
    The property is located at 270 Post Rd Warwick, RI.
    What is the asking price?
    The asking price for this property is $2,699,000.
    What are key features of this property?
    This property features: $2,699,000 asking price.; 251,776 square foot land parcel.; Approved plans for a 48-unit condo complex (5 studios, 5 two-bedroom, 38 one-bedroom).
    Request Owner's contact information
    270 Post Rd 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
    270 Post Rd Warwick, RI 02888
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