Freestanding Family Dollar Investment
989 Main St West Warwick, RI 02893
989 Main St, West Warwick, RI, 02893
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For Sale
Contact for pricing
Freestanding Family Dollar in West Warwick, RI for sale.
Property Size8,400 SF
Price / SF$202.26
Days on Market826
Property Features for 989 Main St
General Information
- Standard status
- Active
- Size
- 8,400 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2017
Listing agency
Horvath & Tremblay
Listed by
Todd Tremblay · License #MA 9504145
Source
Crexi
Added: Apr 17, 2024 Updated: Jul 6 at 7:42AM Checked: Jul 19 at 6:55AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This freestanding Family Dollar investment property is located at 989 Main Street in West Warwick, Rhode Island. The property has been occupied by Family Dollar since 2017 and has over 4 years remaining on their lease, with seven 5-year renewal options. The lease includes rent increases at the start of each renewal option. The property is positioned at the intersection of Maple Street, East Main Street, and Main Street (RI Route 115), a primary commercial and commuter corridor. It features frontage and visibility and is within 1 mile of municipal offices, the West Warwick Civic Center, and several area schools, including West Warwick High School. The surrounding area consists of densely developed residential neighborhoods. The property is 1.8 miles from RI Route 2 and 3 miles from Interstates 95 and 295. West Warwick is located approximately 12 miles south of Providence, RI. The property size is 8,400 square feet.
Key Highlights
- Freestanding Family Dollar with over 4 years remaining on the initial lease term.
- Located on Main Street with excellent frontage and visibility.
- Attractive rent increases at the start of each renewal option.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $201.6k | $24.00 |
| − Vacancy | −$5.2k | −$0.62 |
| EGI | $196.4k | $23.38 |
| − OpEx | −$49.1k | −$5.84 |
| NOI | $147.3k | $17.53 |
8,400 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.10M
$1.84M – $2.45M
NOI $147,269 @ 7.0% cap · market cap 8.67%
Second Best
Retail
$1.55M
$1.36M – $1.81M
NOI $108,586 @ 7.0% cap · market cap 6.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Family Dollar
Discount Store
Similar For Sale Nearby
Similar Off Market Nearby
- Jerry's Supermarket — 25 Providence St #3713, West Warwick, RI 02893
FAQs
What type of property is this?
Grocery and convenience store - Freestanding Family Dollar in West Warwick, RI for sale.
Where is this grocery and convenience store located?
The property is located at 989 Main St West Warwick, RI.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Freestanding Family Dollar with over 4 years remaining on the initial lease term.; Located on Main Street with excellent frontage and visibility.; Attractive rent increases at the start of each renewal option.
