1 River St West Warwick, RI 02893

This exceptional 8,642 square foot lot, located at 1 River Street in West Warwick, Rhode Island, presents a unique investment opportunity. The property, zoned for both commercial and residential use, offers significant development potential. Currently featuring a three-story, 1900-built building, the site provides a solid foundation for various projects. While the existing structure is comprised of residential units, the zoning allows for a range of commercial ventures. The property's location in Kent County, zip code 02893, offers convenient access to local amenities and transportation routes. The asking price is $720,000. Note that the existing building, while having previously generated a total monthly rental income of $7,571, requires flood insurance, currently costing $1,500 annually. The property's versatility and prime location make it an attractive prospect for both seasoned investors and developers seeking a foothold in the Rhode Island market. Serious inquiries are encouraged to explore the full potential of this remarkable land parcel. Further details regarding the existing building's condition and potential redevelopment options are available upon request. The property is situated at 41.7217098 latitude and -71.4907474 longitude.