Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Family Dollar Investment Property Title is generated by Realmo AI

    989 Main St, West Warwick, RI 02893

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Freestanding Family Dollar in West Warwick, RI for sale.

    Type:Retail
    Property size:
    8,400 SF
    Price / SF:
    $202/SF
    Added:
    Apr 17, 2024
    Days on Market:
    780
    Last Refresh:
    May 12 at 9:20 pm

    Property Features for 989 Main St

    General Information

    Standard status
    Active
    Size
    8,400 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2017

    We can help!

    Listing Contact
    Todd Tremblay
    Todd Tremblay

    Listing agent Todd Tremblay License #MA 9504145

    Listing office Horvath & Tremblay

    Listing date Apr 17, 2024

    Source Crexi

    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

    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.
    • Build‑to‑suit construction in 2017.
    • Densely populated residential surroundings provide a strong customer base.
    • Convenient access to major roadways.

    Overview

    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.

    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 (±1% cap)
    NOI $147,269 @ 7.0% cap · market cap 8.67%
    Second Best
    Retail
    $1.55M
    $1.36M – $1.81M (±1% cap)
    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 Profile Location Intelligence

    Current Use by Public Records

    Family Dollar Discount Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • Jerry's Supermarket — 25 Providence St #3713, West Warwick, RI 02893

    Location Insight

    • Map
    • Local Demand
    City
    West Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.5239408
    Latitude
    41.7149184

    Nearby Similar for Sale

    • $895,900
      4,360 SF

      West Warwick Commercial Investment Opportunity

      Two investment properties with a profitable restaurant and medical office.
      923 Main Street, West Warwick, RI 02893
      View Details
    • $13

      West Warwick Commercial Property

      Multi-unit commercial property with flexible spaces for various business uses.
      770 Main Street, West Warwick, RI 02893
      View Details
    • $799,000
      4,023 SF

      West Warwick Commercial Property For Sale

      Well-established bar/lounge with real estate, business, and inventory included.
      245 Washington Street, West Warwick, RI 02893
      View Details
    • $1,100,000
      3,907 SF

      Fully Leased Commercial Building

      Turnkey, fully leased commercial property with updated interiors and multiple income-producing units plus ample on-site parking.
      45 Quaker Lane, West Warwick, RI 02893
      View Details
    • $645,000
      2,798 SF

      Historic West Warwick Multifamily Property

      Folk Victorian duplex in the Fairview Historic District.
      35 Fairview Avenue, West Warwick, RI 02893
      View Details
    • $677,900
      2,478 SF

      Three-Unit Townhouse-Style Multifamily

      Well-maintained 3-unit property with separate utilities, in-unit laundry, and a new roof for streamlined management.
      520 Providence Street, West Warwick, RI 02893
      View Details
    • $649,000
      7,917 SF

      Spacious Multi-Family Home with Suite

      Multi-family home with in-law suite or rental potential.
      185 Legris Avenue, West Warwick, RI 02893
      View Details
    • $699,000
      15,606 SF

      Historic West Warwick Commercial Condo

      9,300 SF office condo with 6,300 SF basement.
      37 WASHINGTON Street, West Warwick, RI 02893
      View Details
    • $675,000
      2,100 SF

      New Construction Multifamily in Warwick

      New construction multifamily property with modern finishes and convenient location.
      10 Walnut Street, West Warwick, RI 02893
      View Details
    • $575,000
      2,388 SF

      Charming Two-Family Home, West Warwick

      Two-unit property with historic charm and modern amenities.
      6 Middle Street, West Warwick, RI 02893
      View Details
    • $675,000
      2,100 SF

      New Construction Two-Family Home

      Modern two-family home in West Warwick with high-end finishes.
      34 Vine Street, West Warwick, RI 02893
      View Details
    • $595,000
      4,698 SF

      West Warwick Mixed-Use Corner Property

      Mixed-use property with retail space and residential units for sale.
      1674 Main Street, West Warwick, RI 02893
      View Details

    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.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Todd Tremblay
    Todd Tremblay
    Real Estate License ID: MA 9504145
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    989 Main St, West Warwick, RI 02893
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!