Property profile

2362 Shr Rd Warwick, RI 02889

OFF-MARKET
Showrooms
Property ID
US76-0058656
5,682 SF 0.25 ac lot Built 1968
Individually Owned 14-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property, located at 2362-2372 West Shore Road in Warwick, Rhode Island (zip code 02889), presents a compelling investment opportunity. The property encompasses a single-story, 1968-built building situated on a substantial 28,749 square foot lot. Currently configured as a six-unit commercial building, five of the units are occupied by long-standing tenants, providing immediate rental income. Each unit features separate electrical and heating systems, simplifying management and facilitating triple-net lease structures. The property's high-visibility location on West Shore Road ensures excellent accessibility from both traffic lanes, benefiting from ample on-site parking with potential for expansion. The property's strategic location across from Warwick Vets Middle School, within a thriving residential neighborhood, and near other established businesses (including gas stations, restaurants, and retail shops), guarantees a consistent flow of potential customers. The sale includes an additional lot, offering significant potential for future expansion or development. This presents a rare chance to acquire a stable, income-generating asset with substantial growth potential in a desirable Warwick location. The property's diverse zoning allows for various commercial uses, including retail, entertainment, and flex space, catering to a wide range of business types. This turnkey investment offers a unique blend of immediate return and long-term growth prospects.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1968
Construction FRAME
Total area 5,682 SF
Lot 0.25 ac (10,890 SF)
Zoning code GB
APN WARW M:361 B:0313 L:0000
UPID US76-0058656

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Tattoo & Piercing Shop
  • Locksmith
  • Department Store
  • Training Center
  • Barber Shop

Location

2362 Shr Rd Warwick, RI 02889-8863
Warwick metro Census 21700 PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$763k
Blend (final) Blend
$400k

Owner & transaction history

since 2012
1 recorded transaction
2012
$570,000

Zoning & alternative use

GB · Warwick, RI
Zoning description

A-10, A-7, O, WB, GB, LI, GI. 200.108. Nightclub. A retail establishment that stays open late at night and provides food, beverages and entertainment, but shall not include adult entertainment. 200.109. Nonconformance. A…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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