616 Shore RdWarwick, RI 02889

Property Details for 616 Shore Rd

Year built

1964

Construction

FRAME

Lot size

0.28 AC

Property size (Sq ft)

2,500 SF

Zone code

GB

Property type

Other commercial real estate

Property subtype

Showrooms

APN

WARW M:317 B:0151 L:0000

APU

WARWM317B0151L0000

Description

This exceptional Warwick, RI commercial property, located at 616 West Shore Road, presents a unique investment opportunity. The 12,197 square foot lot features a single building constructed in 1964, ideally suited for an automotive dealership or similar commercial enterprise. The property boasts a spacious showroom, service bays for convenient on-site maintenance and repairs, and modern office space for administrative functions and client interactions. Its prime location on West Shore Road ensures high visibility and accessibility, benefiting from significant traffic flow and proximity to various amenities. This high-traffic area provides excellent exposure to potential customers, enhancing the overall business potential. The property's strategic location and ample facilities make it an attractive option for entrepreneurs seeking to establish or expand their automotive business. This turnkey operation offers immediate potential for revenue generation and growth within a thriving commercial district. The asking price is $649,900. The property is zoned for commercial use and is ready for immediate occupancy. This is a rare opportunity to acquire a well-established commercial property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $607,587

  6.5%

  $560,850

  7%

  $520,789

• Comparable approach

  Method

  Valuation

  Relative Method

  $823,158

  Geo Method

  $823,158

• Alternative Use

  Use

  Valuation

  Residential

  $473,098

  Hospitality

  $433,355

  Educational

  $360,546

  Medical

  $372,946

  Retail

  $560,850

Location Insight

City

Warwick

County

Kent

State

Rhode Island

Latitude

41.7266

Longitude

-71.3866

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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