275 Warwick Ave - Supermarket FOR SALE


Cranston, RI 02905
$14,732,143 USD
781-776-4003
275 Warwick Ave, Cranston, RI for Sale
$14,732,143 USD
Supermarket - FOR SALE
1/8
null | 7% Cap Rate

275 Warwick Ave
Cranston, RI 02905


HIGHLIGHTS

  • Long Term Tenant
  • Scheduled Rent Increases
  • Strong Tenant
  • Zero Management Responsibilities
  • Prime Retail Location
  • High Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the Stop & Shop Ground Lease located at 275 Warwick Avenue in Cranston, Rhode Island (the “Property”). Stop & Shop has been at the Property since it was constructed in 2011, operating under a 20-year Absolute NNN Ground Lease. Stop & Shop has 6+ years remaining on their lease with eleven (11), 5-year renewal options. The lease provides attractive rent increases every five years throughout the primary lease term and at the start of each renewal option period. Centrally located in the Edgewood neighborhood of Cranston, Stop & Shop is positioned along Warwick Avenue (US Route 1A), one of the area’s primary commercial and commuter corridors. Stop & Shop enjoys outstanding frontage and visibility and is convenient to US Route 1, Interstate 95, and RI Routes 2, 10 and 37. The Property is close to Roger Williams Park (as well as the Zoo and Botanical Center) and is 4-miles from Providence’s Central Business District. The Property offers convenient access to dining, retail, and nightlife options, several hospitals, and several colleges and universities. Stop & Shop is surrounded by densely populated residential neighborhoods that provide a built-in and captive customer base.

FOR SALE DETAILS

PRICE

$14,732,143 USD

PRICE/SF

$283 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Stop & Shop

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.46 AC

LAND SF

324,958 SF

ZONING

C5

APN/PARCEL ID

CRAN-000004-000005-002659

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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Robert HorvathHorvath & TremblayMore Info
781-776-4003

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