52 Providence St Providence St West Warwick, RI 02893
This exceptional commercial property, located at 52 Providence Street in West Warwick, Rhode Island, presents a unique investment opportunity. The property encompasses two lots totaling 39,248 square feet, offering ample space for a variety of uses. A well-established Chinese-American restaurant, operating successfully since 1984, occupies the main building. This two-story building, constructed in 1965, boasts 150 seats and 80 parking spaces. A complete renovation in 2020 ensures modern amenities and updated facilities. The restaurant holds a full liquor license and benefits from its prime location within a densely populated residential and business district. The property's strategic positioning adjacent to the Washington Secondary Bike Trail presents additional revenue opportunities. A full basement provides substantial storage, and the expansive parking lot offers significant development potential. The asking price is $1,400,000. This property is zoned for commercial use, including restaurant and bar operations. The property includes two parcels: 017-0044 (0.558 acres) and 017-0187 (0.343 acres). The zip code is 02893.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.