Freestanding Family Dollar Investment
For Sale
Contact for pricing
989 Main St, West Warwick, RI 02893
Freestanding Family Dollar in West Warwick, RI for sale.
Property Size8,400 SF
Price / SF$202.26
Days on Market922
Property Features for 989 Main St
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$142,850
Building Details
Year Built
2017
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Horvath & Tremblay
Listed By:
Todd Tremblay · License #MA 9504145
(781) 776-4000
Source:
Crexi
Added: Apr 17, 2024
Changed: Oct 25
Last Checked: Oct 24 at 4:33PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,269
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,945,380
$2.9M
Cap Rate 7%
$2,103,843
$2.1M
Cap Rate 9%
$1,636,322
$1.6M
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$201.6K $24.00/SF
− Vacancy
−$5.2K −$0.62/SF
EGI
$196.4K $23.38/SF
− OpEx
−$49.1K −$5.84/SF
NOI
$147.3K $17.53/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,945,380
Cap Rate 7%
$2,103,843
Cap Rate 9%
$1,636,322
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
62k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Dining 26%
Groceries 15%
Dunkin' Donuts
Dining
13,252 visits/mo
0.1 miles
Dollar Tree
Shops & Services
10,691 visits/mo
0.5 miles
Jerry's Supermarket IGA
Groceries
9,410 visits/mo
0.5 miles
Shell
Shops & Services
8,674 visits/mo
0.5 miles
Family Dollar
Shops & Services
6,609 visits/mo
0.1 miles
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Jerry's Supermarket — 25 Providence St #3713, West Warwick, RI 02893
Frequently Asked Questions
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.
