1764 Warwick Ave Warwick, RI 02889

This exceptional investment opportunity presents a single-tenant, net-leased Honey Dew Donuts property located at 1764 Warwick Ave, Warwick, RI 02889. The 1,772 square foot building, constructed in 1990, sits on a 19,000 square foot lot and includes a drive-thru. The property boasts a strong 6.53% cap rate based on a current NOI of $61,992, with an asking price of $950,000 ($536.12/sq ft). The lease, originally commenced on September 25, 1989, has a remaining term of 10.5 years, with options to renew for terms ranging from 3 to 10 years, incorporating rent bumps with each renewal. The tenant, Honey Dew, a multi-unit operator, benefits from a corporate guarantee and has occupied the premises since 1990, ensuring consistent occupancy (currently 100%). The property is zoned General Business (GB) within the City of Warwick and offers ample parking with 38 spaces. This is a triple-net lease, meaning the landlord has zero operational responsibilities. The property's location on Warwick Avenue, a major north-south arterial, provides excellent visibility and accessibility, further enhanced by RIPTA bus service. This is a rare opportunity to acquire a stable, long-term net lease investment with a proven tenant and significant upside potential.