2 Andrews AveWest Warwick, RI 02893

Property Details for 2 Andrews Ave

Lot size

0.36 AC

Zone code

R-7.

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

WWAR 007-0328-0-000

APU

WWAR00703280000

Description

This exceptional West Warwick, RI investment opportunity encompasses a 15,900 square foot lot featuring two buildings. The main structure is a well-established auto body shop, boasting a reception area, office space, two bathrooms, and a four-plus bay garage complete with two mechanical lifts. This building has a proven track record of success. A separate single-family home, currently rented, provides additional income potential. This property presents a unique blend of commercial and residential uses, ideal for an investor seeking diverse revenue streams. Built in 1940, the property offers two units in total. The commercial zoning allows for a variety of potential uses, as detailed in the provided zoning use attachment. The asking price is $649,900. This is a rare chance to acquire a versatile property with established income and significant upside potential in a desirable Rhode Island location. The property's address is 2 Andrews Avenue, West Warwick, RI 02893. The lot size is 15,900 square feet. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $2,628,580

  6.5%

  $2,426,381

  7%

  $2,253,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,077,363

  Geo Method

  $2,077,363

• Alternative Use

  Use

  Valuation

  Residential

  $3,008,713

  Hospitality

  $2,755,964

  Educational

  $2,292,930

  Medical

  $2,371,788

  Retail

  $3,566,780

Location Insight

City

West Warwick

County

Kent

State

Rhode Island

Latitude

41.6964

Longitude

-71.5322

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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