Property summary
This exceptional 1861 property in West Warwick, Rhode Island, presents a unique investment opportunity. Located at 3 Bridal Avenue, 02893, this special purpose building sits on a substantial 528,000 square foot lot. The property comprises one building featuring three distinct rental spaces, each boasting its own character and charm. The Boiler Room, approximately 1700 square feet, offers exposed brick, 32-foot ceilings, arched glass doors, and breathtaking waterfall and river views. The Tool Room, at roughly 2500 square feet, features chic stone walls, a glass garage door, and stunning river views. Lastly, the Waterfall Room, approximately 1650 square feet, is a truly unique space with exposed beams, stone accents, and captivating views. All three spaces include central air conditioning and gas heating. Each rental space is offered at a net/net/net lease rate: The Boiler Room and Tool Room are listed at $2,500 per month, while the Waterfall Room is listed at $2,200 per month. This property offers a rare blend of history, character, and modern amenities, making it an ideal investment for a discerning buyer. The property's prime location in Kent County, Rhode Island, adds to its appeal.
Property profile
VerifiedCap rate & NOI
Current use
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Gym & Fitness Center
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Gym & Fitness Center Sports School
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Sports School
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Car Rental Facility
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Discount Store
Location
Value estimations
Owner & transaction history
Zoning & alternative use
ce AA. Residence 8 (R-8) formerly residence A. Residence 7.5 (R-7.5) formerly residence B. Residence 6 (R-6) formerly residence C. 4.1.2 Nonresidential districts. Business (B) formerly business D. Commercial industrial (…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
CI · West Warwick, RIce AA. Residence 8 (R-8) formerly residence A. Residence 7.5 (R-7.5) formerly residence B. Residence 6 (R-6) formerly residence C. 4.1.2 Nonresidential districts. Business (B) formerly business D. Commercial industrial (…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
ce AA. Residence 8 (R-8) formerly residence A. Residence 7.5 (R-7.5) formerly residence B. Residence 6 (R-6) formerly residence C. 4.1.2 Nonresidential districts. Business (B) formerly business D. Commercial industrial (…
What can be built and operated here — officially.
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