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Property profile & analytics
FOR LEASE
Showrooms

51 Cole St 1R Warren, RI 02885

7,260 SF 0.43 ac lot Built 1950
Entity Owned 4-yr Hold
Property ID
US76-0142830
Property summary
AI-generated overview

This exceptional commercial property, located at 51 Cole Street UNIT 1R in Warren, Rhode Island, presents a unique investment opportunity. The 18,731 square foot lot houses a two-story, 1950-built building offering versatile space ideal for a variety of uses. The first floor is particularly well-suited for businesses such as churches, offices, retail establishments, dog grooming services, or medical/therapy practices. The property boasts a convenient outdoor deck, ample parking, a private entrance, and private offices, ensuring both convenience and privacy for tenants. Internal features include a full kitchen, a laundry facility complete with washer and dryer, a full bathroom, and expansive open space, providing flexibility for diverse business needs. Its prime location along the East Bay Bike Path and adjacent to the Warren Dog Park offers high visibility and accessibility. Furthermore, its proximity to downtown Warren provides easy access to local amenities and services. Additional garage space is available for lease. This property is a rare find, combining a desirable location with versatile space and attractive features. The asking price is $1,650 per month. Contact us today to schedule a viewing.

Property profile
Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1950
Construction FRAME
Total area 7,260 SF
Lot 0.43 ac (18,613 SF)
Zoning code MF
APN WARR M:5 L:130
UPID US76-0142830
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Rob's Custom Accessories Auto Repair Shop
  • Auto MD Auto Repair Shop
  • Your Bike Shop (Bike/Boat/Book/etc) Store
  • Toledo Auto-Spa Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$790k
CAP Approach CAP
by Request
Comparable Approach Comparable
$668k
Blend (final) Blend
$725k
Owner & transaction history
Wip LLC · 4 yrs held
Wip LLC
since 2022
Last sale
$710,000
3 recorded transactions
2022
$710,000
2000
Price N/A
1998
Price N/A
Zoning & alternative use
MF · Warren, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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