Property profile

294 Cowesett Ave West Warwick, RI 02893

OFF-MARKET
Showrooms
Property ID
US76-0181632
6,072 SF 0.64 ac lot Built 2020
Entity Owned 6-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 1,000 square foot commercial property, situated at 294 Cowesett Avenue in West Warwick, Rhode Island, presents a remarkable investment opportunity. Built in 2020, this single-unit building is part of a new construction strip center, boasting a highly desirable location with excellent visibility and accessibility. The property sits on a substantial 28,052 square foot lot, providing ample parking for tenants and customers. Its strategic placement offers immediate access to Route 2 and other major highways, ensuring convenient commutes and high traffic flow. The property is ideally suited for a variety of commercial or medical office uses. The triple net lease structure simplifies ownership and management, making it an attractive option for investors seeking a low-maintenance, high-return investment. The asking price is $1,700. This property is ready for immediate occupancy and represents a rare opportunity to establish a thriving business in a prime West Warwick location within the Kent County zip code 02893. The property's modern construction and convenient location combine to create a highly sought-after commercial space. Don't miss this chance to secure a valuable asset in a rapidly growing area.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 2020
Construction FRAME
Total area 6,072 SF
Lot 0.64 ac (28,040 SF)
Zoning code B
APN WWAR 028-0396-0-000
UPID US76-0181632

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
  • Nail Salon
  • (Bike/Boat/Book/etc) Store Alternative Medicine Practice
  • Photography Service (Bike/Boat/Book/etc) Store
  • Roofing Company General Contractor
  • (Bike/Boat/Book/etc) Store Cosmetic Store

Location

294 Cowesett Ave West Warwick, RI 02893-2294
West Warwick metro Census 20102 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
$1.16M
Comparable Approach Comparable
$1.36M
Blend (final) Blend
$535k

Owner & transaction history

since 2019
2 recorded transactions
2019
Price N/A
2003
$150,000

Zoning & alternative use

B · West Warwick, RI
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…

General category CIVIC_INSTITUTIONAL
Top alternative use upside
Office building $1.4M +50.0%

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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