336 Bald Hill Rd Warwick, RI 02886

Property Details for 336 Bald Hill Rd

Year built

1925

Construction

FRAME

Lot size

0.14 lot acres

Property size

3,310 SF

Zone code

GB

Property type

Showrooms

APN

WARW M:273 B:0248 L:0000

APU

WARWM273B0248L0000

Description

This exceptional investment opportunity presents a newly constructed, 3,286 square foot Raising Cane's restaurant situated on a 1.02-acre lot in Warwick, Rhode Island. The property boasts a prime location on Bald Hill Road (RI Route 2), a major retail corridor with high traffic counts exceeding 32,300 vehicles daily. This strategic location benefits from excellent visibility and accessibility, being near key intersections, I-295, I-95, and US Route 1, as well as prominent landmarks such as the Warwick Mall, Community College of Rhode Island, and TF Green International Airport. The strong demographics of the area, with over 61,900 residents within a 3-mile radius and an average household income exceeding $107,859, further solidify the investment potential. The property features a 15-year absolute NNN ground lease with a corporate guarantee from Raising Cane's, a rapidly expanding national QSR chain, commencing November 1, 2024, and expiring October 31, 2039. The lease includes five, five-year renewal options with attractive 10% rent bumps every five years, providing a hedge against inflation and significant long-term revenue growth. The 4.65% cap rate and $185,000 annual NOI make this a compelling investment with minimal management responsibilities. The property's location within a thriving retail trade area, alongside numerous national retailers and restaurants, ensures consistent customer traffic and strong financial performance. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a blue-chip tenant in a desirable location. The asking price is $3,978,495.

Location Insight

City

Warwick

County

Kent

State

Rhode Island

Longitude

-71.4797

Latitude

41.7279

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments