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    989 Main St West Warwick, RI 02893

    Sponsored
    For Sale
    $1,785,621

    8,400 SF Retail Investment, 8% Cap Rate

    Property size:
    8,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fee-simple ownership of an 8,400-square-foot Family Dollar store located at 989 Main St, West Warwick, RI 02893. Built in 2017, this single-story building sits on a 0.83-acre lot and boasts 100% occupancy under a Net Lease agreement. The lease, commencing July 1, 2018, and expiring June 30, 2028, includes seven 5-year renewal options, providing long-term stability. The tenant, Family Dollar, is backed by a corporate guarantee from Dollar Tree Stores, Inc., a publicly traded company with significant financial strength. The lease features attractive, built-in rent increases, offering a hedge against inflation. Landlord responsibilities are minimal, encompassing only roof, structure, and parking lot maintenance. The property enjoys a prime location on a major commercial corridor, benefiting from high traffic counts (approximately 28,900 vehicles daily) and excellent visibility. The surrounding area features strong demographics, with over 59,400 people within a 3-mile radius and an average household income exceeding $107,796. Proximity to major roadways (RI Route 2, I-95, I-295) further enhances accessibility. This is a compelling investment with a strong tenant, favorable lease terms, and a desirable location. The property generates a Net Operating Income (NOI) of $142,849, resulting in an 8.00% capitalization rate.

    Property Features for 989 Main St

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,400 SF
    Lot Size
    36,155 SF

    Building Details

    Year Built
    2017
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $1,785,621 asking price for a single‑tenant, net‑leased Family Dollar store.
    • 8,400 square foot building on a 0.83‑acre lot, built in 2017.
    • 8.00% cap rate with a $142,849 net operating income (NOI).
    • NN lease with a credit‑rated, corporate guarantee from Dollar Tree Stores, Inc.
    • 4.6 years remaining on the lease with seven 5‑year renewal options, including rent increases.
    • Located at 989 Main St, West Warwick, RI, in a high‑traffic area with strong demographics.
    Property Profile Location Intelligence

    Current Use by Public Records

    Family Dollar Dollar Store

    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
    -71.523761568487
    Latitude
    41.714766247607

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    FAQs

    What type of property is this?
    Individual retail property - 8,400 SF Retail Investment, 8% Cap Rate
    Where is this individual retail property located?
    The property is located at 989 Main St West Warwick, RI.
    What is the asking price?
    The asking price for this property is $1,785,621.
    What are key features of this property?
    This property features: $1,785,621 asking price for a single-tenant, net-leased Family Dollar store.; 8,400 square foot building on a 0.83-acre lot, built in 2017.; 8.00% cap rate with a $142,849 net operating income (NOI).
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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
    989 Main St West Warwick, RI 02893
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