Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    289 Cowesett Ave West Warwick, RI 02893-2280

    • Showrooms
    • 24,850 SF
    • 2.90 lot acres
    OFF-MARKET
    Value Estimations
    $4,130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0179881
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Custom Builders of RI / Home Builder / Construction Company
    • IPRO STAFFING AGENCY / Employment Agency
    • Pizza namad / Restaurant
    • Wise Guys Deli Pizza - West Warwick / Restaurant / Soft Drinks Shop
    • Rhode Island Bookkeeping Associates LLC / Accountant

    Property Details for 289 Cowesett Ave

    Year built
    1986
    Lot size
    2.90 lot acres
    Property size
    24,850 SF
    Zone code
    B
    Property type
    Showrooms
    APN
    WWAR 029-0395-0-000
    APU
    WWAR02903950000

    Description

    This exceptional single-tenant office space, located at 289 Cowesett Avenue, Suite 1-2, in West Warwick, Rhode Island, offers 2,000 square feet of versatile space in a high-traffic plaza. Situated in Kent County, this ground-floor unit boasts a 9.5-foot ceiling height and is conveniently located near Tina Drive. The property is part of a bustling plaza with established retailers such as Stop & Shop, Lowe's, Home Depot, Dollar Tree, and O'Reilly Auto Parts, ensuring high visibility and foot traffic. Its proximity to residential areas, condo villages, and easy highway access via Route 2 (Bald Hill Road) makes it an ideal location for a variety of businesses. Ample parking is available for tenants and customers. The space is suitable for various uses, including traditional office space, retail, or restaurant operations (subject to local zoning regulations). The property features one building with a single story. The rental rate is negotiable.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,115,000
      6.5%
      $4,720,000
      7%
      $4,385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,315,000
      Market price range: $1.76M - $5.92M
      AI Estimate
      $3,352,000
      Market price range: $1.49M - $4.30M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,725,000
      Current use
      OFFICE BUILDING
      $5,585,000
      Change: +50% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,980,000
      Change: -20% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.5061
    Latitude
    41.6842
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $67,301
    $602,700
    $1,542,700
    $2,145,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,320 SF

      76 Manchester St

      SHOW ROOM, WAREHOUSE • 1,320 SF
      76 Manchester St, West Warwick, RI 02893
      View Details
    • Value Estimation by Request
      1,355 SF

      54 New London Ave

      SHOW ROOM, WAREHOUSE • 1,355 SF
      54 New London Ave, West Warwick, RI 02893-3961
      View Details
    • Value Estimation by Request
      1,080 SF

      30 Newell St

      SHOW ROOM, WAREHOUSE • 1,080 SF
      30 Newell St, West Warwick, RI 02893-1825
      View Details
    • Value Estimation by Request
      384 SF

      5 Pleasant St

      SHOW ROOM, WAREHOUSE • 384 SF
      5 Pleasant St, West Warwick, RI 02893-5611
      View Details
    • Value Estimation
      $5,080,000
      25,356 SF

      561 Quaker Ln

      SHOW ROOM, WAREHOUSE • 25,356 SF
      561 Quaker Ln, West Warwick, RI 02893-7623
      View Details
    • Value Estimation
      $17,490,000
      116,034 SF

      1681 Quaker Ln

      SHOW ROOM, WAREHOUSE • 116,034 SF
      1681 Quaker Ln, West Warwick, RI 02893-2147
      View Details

    Similar Nearby for Sale

    • $1,900,000
      2,340 SF

      West Warwick Multi-Business Property

      High-traffic corner, multiple income streams.
      128 Cowesett Ave, West Warwick, RI 02893
      View Details
    • $1,099,900
      0.31 Acres

      West Warwick Investment Opportunity

      Two investment properties with a profitable restaurant and medical office.
      923 Main St, West Warwick, RI 02893
      View Details
    • $450,000
      0.17 Acres

      West Warwick Commercial Opportunity

      Versatile commercial space with highway access and dedicated parking.
      568 Providence St, West Warwick, RI 02893
      View Details
    • Contact for pricing
      0.12 Acres

      Refreshed Commercial Space, West Warwick

      Versatile commercial space on a high-visibility corner lot.
      1542 Main St, West Warwick, RI 02893
      View Details
    • $479,000
      4,570 SF

      Main Street Retail Opportunity

      Versatile commercial property on Main Street available for sale.
      1243 Main St, West Warwick, RI 02893
      View Details
    • $1,785,621
      8,400 SF

      Family Dollar Net Lease RI

      8,400 SF Retail Investment, 8% Cap Rate
      989 Main St, West Warwick, RI 02893
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Retail Pad Sites For Lease

      Outparcels available for lease with high traffic counts.
      510 Quaker Ln, West Warwick, RI 02893
      View Details
    • $1,300 /Mo
      1,600 SF

      Versatile Space in West Warwick

      Adaptable 1,600 SF space suitable for retail, foodservice, or warehouse.
      27 Pike St, West Warwick, RI 02893
      View Details
    • $10 SF/Yr
      7,203 SF

      West Warwick Warehouse Space Available

      Flexible Industrial Space for Lease in RI
      86 Pulaski St, West Warwick, RI 02893
      View Details
    • Contact for pricing
      100,000 SF

      Industrial Build-to-Suit Opportunity

      Industrial spaces for lease, customizable to tenant specifications.
      98 Lacroix Dr, West Warwick, RI 02893
      View Details
    • Contact for pricing

      Laydown Pads for Rent

      Two laydown pads totaling approximately 4.5 acres available for rent.
      1600 Division Rd, West Warwick, RI 02893
      View Details
    • Contact for pricing
      100,000 SF

      Lacroix Drive Industrial Flex Space

      100,000 SF Flex Warehouse, Kent County
      0 Lacroix Dr, West Warwick, RI 02893
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    289 Cowesett Ave
    West Warwick, RI 02893-2280
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.