Property profile & analytics
989 Main St West Warwick, RI 02893-3630
- Showrooms
- 10,000 SF
- 0.26 lot acres
OFF-MARKET
Value Estimations
$1,730,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US76-0071264
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
- Family Dollar / Discount Store
Property Details for 989 Main St
- Year built
- 2017
- Lot size
- 0.26 lot acres
- Property size
- 10,000 SF
- Zone code
- B
- Property type
- Showrooms
- APN
- WWAR 003-0041-0-000
- APU
- WWAR00300410000
Description
This exceptional investment opportunity presents a fee-simple ownership of an 8,400-square-foot Family Dollar store located at 989 Main St, West Warwick, RI 02893. Built in 2017, this single-story building sits on a 0.83-acre lot and boasts 100% occupancy under a Net Lease agreement. The lease, commencing July 1, 2018, and expiring June 30, 2028, includes seven 5-year renewal options, providing long-term stability. The tenant, Family Dollar, is backed by a corporate guarantee from Dollar Tree Stores, Inc., a publicly traded company with significant financial strength. The lease features attractive, built-in rent increases, offering a hedge against inflation. Landlord responsibilities are minimal, encompassing only roof, structure, and parking lot maintenance. The property enjoys a prime location on a major commercial corridor, benefiting from high traffic counts (approximately 28,900 vehicles daily) and excellent visibility. The surrounding area features strong demographics, with over 59,400 people within a 3-mile radius and an average household income exceeding $107,796. Proximity to major roadways (RI Route 2, I-95, I-295) further enhances accessibility. This is a compelling investment with a strong tenant, favorable lease terms, and a desirable location. The property generates a Net Operating Income (NOI) of $142,849, resulting in an 8.00% capitalization rate.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,060,000
- 6.5%
- $1,900,000
- 7%
- $1,765,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,847,000
- AI Estimate
- $1,435,000
Market price range: $708k - $2.38MMarket price range: $600k - $1.73M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,500,000 Current use
- OFFICE BUILDING
- $2,250,000 Change: +50% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $1,200,000 Change: -20% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- West Warwick
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.5242
- Latitude
- 41.7152
- 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
$28,816
$35,500
$883,100
$918,600
-
$0.00
$0.00
$0.00
