270 Post Rd Warwick, RI 02888
- Showrooms
- 33,439 SF
- 5.78 lot acres
Current Use by Public Records
- Showrooms
Property Details for 270 Post Rd
- Year built
- 1967
- Construction
- STEEL FRAME
- Lot size
- 5.78 lot acres
- Property size
- 33,439 SF
- Zone code
- A7
- Property type
- Showrooms
- APN
- WARW M:293 B:0940 L:0000
- APU
- WARWM293B0940L0000
Description
This exceptional investment opportunity presents a fully approved 48-unit condominium complex situated on a generous 5.78-acre lot at 270 Post Road in Warwick, Rhode Island. Priced at $2,599,000, this solid brick building offers significant potential for a savvy developer. While requiring a complete interior build-out, the foundation is strong, with a recently installed roof (2020). The unit mix is well-diversified, including five studio units, five two-bedroom units, and thirty-eight one-bedroom units, catering to a broad range of potential residents. Detailed parking plans and layouts are readily available for review, providing a clear vision for the project's completion. This property represents a unique chance to capitalize on the strong demand for residential units in Warwick, transforming a solid structure into a thriving community. The substantial lot size offers ample space for future expansion or amenity additions, further enhancing the property's value and appeal. The approved plans streamline the development process, minimizing delays and maximizing return on investment. This is an exceptional opportunity for an investor seeking a high-yield project with significant upside potential. Don't miss this chance to acquire a prime piece of Warwick real estate.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,150,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,260,000
- 6.5%
- $1,285,000
- 7%
- $1,275,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,035,000
- Geo Method
- $1,165,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,030,000
- Retail
- $1,080,000
- Mixed-Use
- $1,225,000
- Hospitality
- $1,035,000
- Educational
- $1,095,000
- Residential Income
- $945,000
- Energy
- $1,040,000
- Income-Based Land
- $905,000
- Food Service
- $955,000
Location Insight
- Map
- Local Demand
- City
- Warwick
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.3988
- Latitude
- 41.7617
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
