53 Providence St - Retail FOR SALE


West Warwick, RI 02893
$2,650,000 USD
401-742-0744
53 Providence St, West Warwick, RI for Sale
$2,650,000 USD
Retail - FOR SALE
1/62
null | 7.44% Cap Rate

NEW


53 Providence St
West Warwick, RI 02893


HIGHLIGHTS

  • 7.8% Current Cap | 8.5% Stabilized | Multi-Tenant NNN Investment with Upside

OVERVIEW

PRIME MULTI-TENANT NNN INVESTMENT OPPORTUNITY Excellent opportunity to acquire a well-established, income-producing commercial complex in West Warwick. Offered at $2,650,000, the property currently generates approximately $207,600 in annual base rent, providing an estimated current cap rate of approximately 7.44%. One unit is presently available and was previously leased for $1,500 per month. Once leased, projected annual base rent increases to approximately $225,600, producing an estimated stabilized cap rate of approximately 8.51%. The property contains approximately 13,520 square feet of commercial space on 0.76 acres with ample on-site parking. The established tenant mix includes restaurant, office, fitness, event, service and commercial users, providing diversified income from multiple businesses. The leases are structured as triple net, with tenants responsible for their respective operating expenses pursuant to their individual lease agreements. This structure provides investors with protection against increases in property taxes, insurance and other operating costs. Strategically located along Providence Street near the Route 2/Bald Hill Road commercial corridor, Downtown West Warwick and major highway connections. The property offers strong visibility, convenient access and an established commercial location. Investment Highlights: • Approximately 7.44% current cap rate • Approximately 8.51% projected stabilized cap rate • $207,600 in current annual base rent • Potential annual base rent of $225,600 at full occupancy • One available unit offering immediate income upside • Multi-tenant triple-net lease structure • Approximately 13,520 square feet • 0.76-acre site with ample parking • Diversified mix of established commercial tenants • Individual 3D Matterport tours available for the tenant spaces Financial information, lease terms, expense reimbursements and projected returns are based on information supplied by the seller and are subject to buyer verification.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$188 USD /SF

CAP RATE

7.44%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Houle Plaza

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.76 AC

LAND SF

33,106 SF

ZONING

B

APN/PARCEL ID

WWAR-000017-000134-000000

ASK ABOUT THIS PROPERTY

Esther DenetteKeller Williams CoastalMore Info
401-742-0744

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Esther DenetteKeller Williams CoastalMore Info
401-742-0744

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