1009 Centerville Rd - Retail FOR SALE


Warwick, RI 02886- Warwick/West Warwick
$3,800,000 USD
781-776-4001
1009 Centerville Rd, Warwick, RI for Sale
$3,800,000 USD
Retail - FOR SALE
1/6
null | 5% Cap Rate

1009 Centerville Rd
Warwick, RI 02886
Warwick/West Warwick


HIGHLIGHTS

  • Brand-New Lease
  • Attractive Rent Increases
  • Dynamic Tenant
  • New Construction
  • Strategic Retail Location
  • Strong Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire a new construction Cava located at 1009 Centerville Road in Warwick, Rhode Island (the “Property”). The free-standing, single tenant Cava consists of a 2,500-square building, on a 0.65-acre parcel with a pick-up window and outdoor seating area. Cava has a new 15-year Double Net lease with four (4), five-year renewal options. The lease calls for attractive 10% increases every 5 years throughout the primary lease term and at the start of each renewal option. The Property is currently under construction and has an anticipated rent commencement date of July 15, 2025. The new construction Cava is extremely well located between Centerville Road and Bald Hill Road, the area’s primary commercial corridor. The Property is a pad-site to Warwick’s Marketplace Center, where it enjoys excellent visibility and frontage, with accessibility on Centerville Road and from Bald Hill Road via Marketplace Center. Cava is 1-mile from Interstate 95, which offers direct access to Interstate 295 less than 2 miles away, and 1.9-miles from US Route 1. Additionally, the Property is 1.5 miles from the Kent County Memorial Hospital, 2.3 miles from the Community College of Rhode Island, 2.5 miles from the Warwick Mall, and 4 miles from TF Green International Airport. The location is part of a dominant trade area along Bald Hill Road that is home to countless national retailers and restaurants, numerous car dealerships, and several nationally branded hotels that drive traffic to the area.

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$1,520 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cava

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

A15

APN/PARCEL ID

WARW-000241-000010-000000

ASK ABOUT THIS PROPERTY

Todd TremblayHorvath & TremblayMore Info
781-776-4001

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Todd TremblayHorvath & TremblayMore Info
781-776-4001

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.