770 Main StWest Warwick, RI 02893

Property Details for 770 Main St

Year built

1900

Construction

FRAME

Lot size

0.89 AC

Property size (Sq ft)

47,424 SF

Zone code

CI

Property type

Other commercial real estate

Property subtype

Showrooms

APN

WWAR 002-0478-0-000

APU

WWAR00204780000

Description

This exceptional West Warwick, Rhode Island property presents a compelling owner-occupant or investment opportunity. Located at 770 Main Street, this 38,800 square foot lot features a single building constructed in 1900. The first floor houses a fully operational business generating positive cash flow, providing immediate income potential for investors. The second floor is currently 50% occupied by the first-floor tenant and 50% by another business utilizing the space for storage, offering further revenue streams or expansion possibilities. The property's prime location on Main Street in West Warwick ensures high visibility and significant traffic, maximizing its commercial potential. This is an "as-is" sale, allowing for flexibility and potential for renovation or expansion based on the buyer's vision. The property's strong existing tenancy and strategic location make it an attractive proposition for both seasoned investors and owner-occupants seeking a profitable venture in a thriving Rhode Island market. The property is zoned for commercial and warehouse use, offering versatility for a wide range of businesses. This is a rare opportunity to acquire a well-situated, income-generating property in a desirable location. The asking price is $2,850,000. Don't miss this chance to secure a valuable asset in a dynamic market.

• CAP approach

  CAP return

  Valuation

  6%

  $11,525,688

  6.5%

  $10,639,096

  7%

  $9,879,161

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,614,978

  Geo Method

  $15,614,978

• Alternative Use

  Use

  Valuation

  Residential

  $8,974,476

  Hospitality

  $8,220,572

  Educational

  $6,839,419

  Medical

  $7,074,637

  Retail

  $10,639,096

Location Insight

City

West Warwick

County

Kent

State

Rhode Island

Latitude

41.7213

Longitude

-71.5309

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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