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793-799 West Shore Road

2 Retail Properties Offered at $650,000 in Warwick, RI

Investment Highlights

  • Downtown location
  • abuts park
  • 2 separate lots
  • 1 block from Providence River

Executive Summary

Incredible opportunity to own 3 separate buildings on 2 different lots in a fantastic downtown location with private parking. 793 West Shore is a mixed use building currently being used as a 2 bedroom 1 bathroom single family, owner occupied now, paying 1500 per month. 799 West Shore contains a large vacant commercial building, along with a separate vacant building in the back, currently zoned GB. 799 West Shore is a partially renovated larger building, which includes a brand new electrical and HVAC unit, just needs to be connected to the gas. Seller has been approved for 8 foot ceilings to keep under 35,000 cubic feet which will not require a sprinkler system. The second smaller building is gutted but currently has electrical connection. 793 West shore has gone through a full remodel with new sheetrock and flooring throughout, plumbing, HVAC, electrical, newer heating system, and central air. First floor features the living room, eat in kitchen, 1 bedroom, and laundry area. Second floor is an open loft with cathedral ceilings and a walk in closet that is currently used as the second bedroom. Plumbing is already upstairs to add a second bathroom. The loft is large enough to convert into two bedrooms. This property conveniently abuts a small park to enjoy at any time and is only a block away from the Providence River.

Taxes & Operating Expenses (Actual - 2023)

Annual
Gross Rental Income $18,000
Other Income -
Vacancy Loss -
Effective Gross Income $18,000
Net Operating Income -

Taxes & Operating Expenses (Actual - 2023)

Gross Rental Income
Annual $18,000
Other Income
Annual -
Vacancy Loss
Annual -
Effective Gross Income
Annual $18,000
Net Operating Income
Annual -

Property Facts

Price $650,000
Price / SF $146.36 / SF
Sale Conditions
Bulk/Portfolio Sale
  • Redevelopment Project
  • Building in Shell Condition
Cap Rate 2.77%
Sale Type Investment or Owner User
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 4,441 SF
Total Land Area 0.53 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
793 W Shore Rd, Warwick, RI 02889 Retail 853 SF 1900 -
799 W Shore Rd, Warwick, RI 02889 Retail 3,588 SF 1930 -
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  • Listing ID: 34033573

  • Date on Market: 11/29/2024

  • Last Updated:

  • Address: 793-799 West Shore Road, Warwick, RI

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