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Property profile & analytics
OFF-MARKET Estimated value $565,000
Showrooms

1237 Main St West Warwick, RI 02893-4861

15,616 SF 0.25 ac lot Built 1949
Entity Owned 19-yr Hold ~ Est. High Equity
Property ID
US76-0217280
Property summary
AI-generated overview

This exceptional commercial property, located at 1237 Main Street in West Warwick, Rhode Island, presents a unique investment opportunity. The 23,000 square foot building, constructed in 1949, boasts a prime location with Main Street frontage in the Arctic Design Control District (ADCD). Currently, a national tenant, Rent-A-Center, occupies approximately 6,000 square feet, generating $52,800 in annual gross rental income. The remaining 17,000 square feet of net rentable space is available for lease, offering significant potential for increased revenue. This space is distributed across the lower level, first floor, and second floor. The property sits on a 0.26-acre lot and includes convenient on-site rear parking. Its high visibility and established tenant base make this a compelling investment in a thriving Rhode Island market. The property is classified as Class C and zoned for commercial use within the ADCD. This presents a rare chance to acquire a well-situated, income-producing property with substantial upside potential. The asking price for this remarkable opportunity is $685,000. Detailed financial information is available upon request.

Property profile
Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1949
Construction FRAME
Total area 15,616 SF
Lot 0.25 ac (10,968 SF)
Zoning code B
APN WWAR 005-0015-0-000
UPID US76-0217280
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Rent-A-Center Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$555k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$565k
Owner & transaction history
N&m Prop LLC · 19 yrs held
N&m Prop LLC
since 2007
Last sale
$590,000
3 recorded transactions
2010
Price N/A
2007
$250,000
2002
Price N/A
Zoning & alternative use
B · West Warwick, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

(b) Signs which advertise an activity, business, product or service no longer produced or conducted on the premises upon which the sign is located. No such sign shall remain in place or on vacated premises for more than one year from the date the vacancy commenced. (c) Signs which are attached to natural features, stone walls, utility poles, utility boxes, t…

Zone name Business
General category CIVIC_INSTITUTIONAL
Zone area 355.71 ac
Source code of ordinances
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