2720 Post Rd, Warwick, RI 02886-3003
- Showrooms
- 7,932 SF
- 1.15 lot acres
Current Use by Public Records
- AutoZone Auto Parts / Auto Parts Store
Property Details for 2720 Post Rd
- Year built
- 1970
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.15 lot acres
- Zone code
- GB
- Property type
- Showrooms
- APN
- WARW M:267 B:0213 L:0000
- APU
- WARWM267B0213L0000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 10, 2024 | — | Az Warwick Grp LLC | Esther Alison LLC | Warranty Deed | — |
| Sep 11, 2013 | — | Ester Alison LLC | Alison Esther T | Warranty Deed | — |
Description
This exceptional investment opportunity presents a 7,932-square-foot AutoZone retail property in Warwick, Rhode Island. Located at 2720 Post Rd, this Class A, single-tenant building boasts a 100% occupancy rate with a long-term lease to AutoZone (investment grade tenant) extending until July 1, 2038, with two, five-year renewal options. The property sits on a 1.3-acre lot and features a ground lease ownership structure. The asking price is $1,600,000, representing a 5.75% cap rate and a price per square foot of $201.71. The property underwent renovations in 2005 and benefits from built-in rent bumps. The net operating income (NOI) is $92,000 annually. The property is zoned GB and is situated in a densely populated area with high average household incomes. This stabilized investment offers significant long-term value and minimal landlord responsibilities due to its absolute NNN lease structure. The current rent is below market value, presenting an opportunity for future rental growth. This is a compelling 1031 exchange opportunity.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,635,000
- 6.5%
- $1,505,000
- 7%
- $1,400,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $939,000
Market price range: $509k - $1.61M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,885,000 Current use
- OFFICE BUILDING
- $1,580,000 Change: -16% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Warwick
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.4492
- Latitude
- 41.71
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
