99-101 W Natick Rd 7,000 SF 100% Leased Retail Building Warwick, RI 02886 $1,650,000 ($235.71/SF) 5.24% Cap Rate
INVESTMENT HIGHLIGHTS
- Signaled intersection with Cumberland Farms
- High Traffic Count, easy highway access
- Directly across from the Warwick Mall
- Ideal location for redevelopment
EXECUTIVE SUMMARY
Prime location available in Warwick, the retail hub of Rhode Island. This property can continue to be used as an investment or can be redeveloped into another long-term asset. Situated at a signaled intersection, along with Cumberland Farms, and shares an entrance to the Warwick Mall. This opportunity consists of 4 abutting lots, totaling 16,988 sqft (.39 acres). This site offers exceptional visibility and access. Take advantage of traffic visiting the 70 acre 1,000,000 square foot Mall and all of their national retailers, including: Macy's, Nordstrom Rack, Pandora, Victoria's Secret, Target, Old Navy, JC Penney, Jordan's Furniture, Apple Cinemas and many more. This assemblage of properties centers around the convergence of major traffic thoroughfares, Interstate 295 & 95, Route 2 (Bald Hill Road) and Route 5. Don't let this once in a lifetime opportunity pass you by.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
7,000 SF
Building Class
B
Year Built
1980
Price
$1,650,000
Price Per SF
$235.71
Cap Rate
5.24%
NOI
$86,434
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
10’
Building FAR
0.41
Lot Size
0.39 AC
Zoning
GB - GB - General Business
Parking
22 Spaces (3.14 Spaces per 1,000 SF Leased)
Frontage
178’ on West Natick Rd
AMENITIES
- Corner Lot
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | WARW-000273-000377-000000 | Improvements Assessment | $339,300 |
| Land Assessment | $156,500 | Total Assessment | $495,800 |
