Corner Retail Suite with Window
For Sale
$225,000
A-1709 Warwick Ave, Warwick, RI 02888
Corner retail unit with windowed frontage, parking for 18 vehicles plus on-street options, and updated 1/2 bathroom.
Property Size960 SF
Price / SF$234.38
Days on Market103
Property Features for A-1709 Warwick Ave
General Information
Standard status
Active
Size
960 SF
Total Parking Spaces
18
Additional Details
Traffic Count
20,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$2,445
Listing Agency:
Keller Williams Coastal
(401) 845-9200
Listed By:
Joellen Wunner · License #RES.0034025
(401) 368-1200
Source:
Exprealty
Added: Jun 1
Changed: Sep 5
Last Checked: Sep 10 at 1:12PM
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 Coastal
Investment Insights
Based on property information with market context.
This for-sale retail unit is set up for immediate use, with windowed frontage for display and natural light. The space includes forced air/gas heat and A/C for warmer months, a 400+ amp electric panel, and an updated 1/2 bathroom. Fire code compliance is noted in the offering, and the unit is expected to be vacant and ready for a new business.
Positioned on a corner near Omaha and Warwick Ave, the storefront is described as having great signage on Warwick Ave that is lit up at night. A bus stop is located on the street for convenient access, and the property offers 18 on-site parking spots plus additional on-street parking on the side road.
Configured as a street-facing retail suite, the combination of prominent frontage, signage, and ample parking supports straightforward customer access.
Positioned on a corner near Omaha and Warwick Ave, the storefront is described as having great signage on Warwick Ave that is lit up at night. A bus stop is located on the street for convenient access, and the property offers 18 on-site parking spots plus additional on-street parking on the side road.
Configured as a street-facing retail suite, the combination of prominent frontage, signage, and ample parking supports straightforward customer access.
Key Highlights
- Corner retail unit on Omaha and Warwick Ave with windowed frontage for display and natural light
- Over 20,000 cars drive by per day on Warwick Ave, with signage lit up at night
- 18 on‑site parking spots plus additional on‑street parking on the side road
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
$12,410
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
5.52%
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%
$248,200
$248.2K
Cap Rate 7%
$177,286
$177.3K
Cap Rate 9%
$137,889
$137.9K
Market Conditions
NOI Build-Up for 960 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
$18.2K $18.96/SF
− Vacancy
−$473 −$0.49/SF
EGI
$17.7K $18.47/SF
− OpEx
−$5.3K −$5.54/SF
NOI
$12.4K $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%
$248,200
Cap Rate 7%
$177,286
Cap Rate 9%
$137,889
Alternative Uses
Best Use
Retail
$177.3K
$155.1K – $206.8K
NOI $12,410 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$240.4K
$210.4K – $280.5K
NOI $16,831 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
74k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 75%
Dining 12%
Home Improvements & Furnishings 9%
Beauty & Spa 2%
Shaw's Supermarket
Groceries
27,990 visits/mo
0.2 miles
Stop & Shop
Groceries
27,826 visits/mo
0.3 miles
Warwick Ace Hardware
Home Improvements & Furnishings
6,998 visits/mo
0.1 miles
Dunkin' Donuts
Dining
6,669 visits/mo
0.1 miles
Domino's Pizza
Dining
2,324 visits/mo
0.3 miles
Demographics for 02888, RI
19,578
Population
9,117
Households
2.1
Avg Household Size
46
Median Age
32%
College-Educated
96%
High-School Grad
5.9 sq mi
ZIP Area
3,318
Density / Sq Mi
$88,750
Median Household Income
$55,561
Median Earnings
$1,218
Median Rent
$318,100
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?
Retail space - Corner retail unit with windowed frontage, parking for 18 vehicles plus on-street options, and updated 1/2 bathroom.
Where is this retail space located?
The property is located at A-1709 Warwick Ave Warwick, RI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Corner retail unit on Omaha and Warwick Ave with windowed frontage for display and natural light; Over 20,000 cars drive by per day on Warwick Ave, with signage lit up at night; 18 on‑site parking spots plus additional on‑street parking on the side road
