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    1050 Warwick Ave Warwick Ave Warwick, RI 02888

    Sponsored
    For Sale
    $849,900

    Prime Warwick location, high-income potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional investment opportunity in Warwick, Rhode Island, featuring a 7,751 sq ft two-story medical office building situated on a 32,844 sq ft corner lot. This property boasts 90 feet of frontage on Warwick Avenue, with additional access from Waldron Avenue, providing excellent visibility and accessibility. The building currently houses several established physician specialists and medical testing labs, generating a monthly rental income of $9,900. Ample on-site parking accommodates 75 vehicles. The unfinished second floor offers approximately 2,200 sq ft of potential for expansion, or the entire building presents an opportunity for residential conversion. The property's strategic location offers convenient access to Interstate 95 and all major highways, with T.F. Green International Airport just 4 miles away and Providence 6 miles away. Built in 1980, this single-building property presents a unique blend of existing income and future development potential. The property is zoned for commercial, executive office, medical office, and garage/parking uses. This is a rare opportunity to acquire a well-located, income-producing asset with significant upside potential.

    Property Features for 1050 Warwick Ave Warwick Ave

    General Information

    Property type
    Automotive properties

    Building Details

    Year Built
    1980
    Buildings
    1
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Map

    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4047129
    Latitude
    41.7474805

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    FAQs

    What type of property is this?
    Automotive property - Prime Warwick location, high-income potential.
    Where is this automotive property located?
    The property is located at 1050 Warwick Ave Warwick Ave Warwick, RI.
    What is the asking price?
    The asking price for this property is $849,900.
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    1050 Warwick Ave Warwick Ave 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
    1050 Warwick Ave Warwick Ave Warwick, RI 02888
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