989 Main St West Warwick, RI 02893

Property Details for 989 Main St

Year built

2017

Lot size

0.26 lot acres

Property size

10,000 SF

Zone code

B

Property type

Showrooms

APN

WWAR 003-0041-0-000

APU

WWAR00300410000

Description

This exceptional investment opportunity presents a fee-simple ownership of an 8,400-square-foot Family Dollar store located at 989 Main St, West Warwick, RI 02893. Built in 2017, this single-story building sits on a 0.83-acre lot and boasts 100% occupancy under a Net Lease agreement. The lease, commencing July 1, 2018, and expiring June 30, 2028, includes seven 5-year renewal options, providing long-term stability. The tenant, Family Dollar, is backed by a corporate guarantee from Dollar Tree Stores, Inc., a publicly traded company with significant financial strength. The lease features attractive, built-in rent increases, offering a hedge against inflation. Landlord responsibilities are minimal, encompassing only roof, structure, and parking lot maintenance. The property enjoys a prime location on a major commercial corridor, benefiting from high traffic counts (approximately 28,900 vehicles daily) and excellent visibility. The surrounding area features strong demographics, with over 59,400 people within a 3-mile radius and an average household income exceeding $107,796. Proximity to major roadways (RI Route 2, I-95, I-295) further enhances accessibility. This is a compelling investment with a strong tenant, favorable lease terms, and a desirable location. The property generates a Net Operating Income (NOI) of $142,849, resulting in an 8.00% capitalization rate.

Location Insight

City

West Warwick

County

Kent

State

Rhode Island

Longitude

-71.5242

Latitude

41.7152

CBSA code

39300

CBSA name

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

Property Tax & Assessments