Warwick Retail Hub Land
For Sale
Contact for pricing
99 W Natick Rd, Warwick, RI 02886
Prime retail location in Warwick, Rhode Island near Warwick Mall.
Property Size7,400 SF
Lot Size0.39 Acres
Price / SF$201.35
Days on Market609
Property Features for 99 W Natick Rd
General Information
Standard status
Active
Size
7,400 SF
Lot size
0.39 Acres
Property subtype
Land, Retail
Zoning
GB
Occupancy
100%
Investment Type
Redevelopment
Net Operating Income
$86,434
Building Details
Stories
2
Units
7
Listing Agency:
Keller Williams Realty NRI
(401) 333-4900
Listed By:
Pete Dufresne · License #REB.18949
Source:
Crexi
Added: Dec 10, 2024
Changed: Aug 11
Last Checked: Aug 11 at 9:55AM
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 Keller Williams Realty NRI
Investment Insights
Based on property information with market context.
Located in Warwick, Rhode Island, this property presents a prime location within the retail hub of the area. The site, currently suitable as an investment, offers redevelopment potential for long-term asset utilization. Situated at a signaled intersection and sharing an entrance with the Warwick Mall and Cumberland Farms, the property benefits from exceptional visibility and access. The assemblage comprises 4 abutting lots, totaling 16,988 square feet, which is equivalent to 0.39 acres. The location benefits from traffic to the 70-acre, 1,000,000-square-foot Warwick Mall, which houses national retailers such as Macy's, Nordstrom Rack, Pandora, Victoria's Secret, Target, Old Navy, JC Penney, Jordan's Furniture, and Apple Cinemas. The property is positioned at the convergence of major traffic thoroughfares, including Interstate 295 and 95, Route 2 (Bald Hill Road), and Route 5.
Key Highlights
- Prime location in Warwick's retail hub with exceptional visibility and access
- Shares an entrance with the Warwick Mall, a 1,000,000 sqft shopping center
- Located at a signaled intersection alongside Cumberland Farms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$95,659
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,913,180
$1.9M
Cap Rate 7%
$1,366,557
$1.4M
Cap Rate 9%
$1,062,878
$1.1M
Market Conditions
NOI Build-Up for 7,400 SF
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.
Gross rent
$140.3K $18.96/SF
− Vacancy
−$3.6K −$0.49/SF
EGI
$136.7K $18.47/SF
− OpEx
−$41.0K −$5.54/SF
NOI
$95.7K $12.93/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,913,180
Cap Rate 7%
$1,366,557
Cap Rate 9%
$1,062,878
Alternative Uses
Best Use
Retail
$1.37M
$1.20M – $1.59M
NOI $95,659 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,737 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
962
Businesses Nearby
420k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 66%
Dining 17%
Shops & Services 14%
Electronics 1%
Macy's
Apparel
100,312 visits/mo
0.2 miles
Marshalls
Apparel
47,174 visits/mo
0.4 miles
JCPenney
Apparel
45,850 visits/mo
0.2 miles
Old Navy
Apparel
33,915 visits/mo
0.2 miles
Nordstrom Rack
Apparel
33,668 visits/mo
0.3 miles
Demographics for 02886, RI
29,373
Population
13,669
Households
2.1
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
15.8 sq mi
ZIP Area
1,859
Density / Sq Mi
$91,037
Median Household Income
$52,851
Median Earnings
$1,300
Median Rent
$334,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Prime retail location in Warwick, Rhode Island near Warwick Mall.
Where is this commercial land located?
The property is located at 99 W Natick Rd Warwick, RI.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Prime location in Warwick's retail hub with exceptional visibility and access; Shares an entrance with the Warwick Mall, a 1,000,000 sqft shopping center; Located at a signaled intersection alongside Cumberland Farms
