2720 Post RdWarwick, RI 02886

Property Details for 2720 Post Rd

Year built

1970

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.15 AC

Property size (Sq ft)

7,932 SF

Zone code

GB

Property type

Other commercial real estate

Property subtype

Showrooms

APN

WARW M:267 B:0213 L:0000

APU

WARWM267B0213L0000

Description

This exceptional investment opportunity presents a 7,932-square-foot AutoZone retail property in Warwick, Rhode Island. Located at 2720 Post Rd, this Class A, single-tenant building boasts a 100% occupancy rate with a long-term lease to AutoZone (investment grade tenant) extending until July 1, 2038, with two, five-year renewal options. The property sits on a 1.3-acre lot and features a ground lease ownership structure. The asking price is $1,600,000, representing a 5.75% cap rate and a price per square foot of $201.71. The property underwent renovations in 2005 and benefits from built-in rent bumps. The net operating income (NOI) is $92,000 annually. The property is zoned GB and is situated in a densely populated area with high average household incomes. This stabilized investment offers significant long-term value and minimal landlord responsibilities due to its absolute NNN lease structure. The current rent is below market value, presenting an opportunity for future rental growth. This is a compelling 1031 exchange opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,927,753

  6.5%

  $1,779,464

  7%

  $1,652,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,611,716

  Geo Method

  $2,611,716

• Alternative Use

  Use

  Valuation

  Residential

  $1,501,045

  Hospitality

  $1,374,949

  Educational

  $1,143,941

  Medical

  $1,183,283

  Retail

  $1,779,464

Location Insight

City

Warwick

County

Kent

State

Rhode Island

Latitude

41.71

Longitude

-71.4492

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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