989 Main StWest Warwick, RI 02893

Property Details for 989 Main St

Year built

2017

Lot size

0.26 AC

Property size (Sq ft)

10,000 SF

Zone code

B

Property type

Showrooms

APN

WWAR 003-0041-0-000

APU

WWAR00300410000

Description

This exceptional investment opportunity presents a fee-simple ownership of an 8,400-square-foot Family Dollar store located at 989 Main St, West Warwick, RI 02893. Built in 2017, this single-story building sits on a 0.83-acre lot and boasts 100% occupancy under a Net Lease agreement. The lease, commencing July 1, 2018, and expiring June 30, 2028, includes seven 5-year renewal options, providing long-term stability. The tenant, Family Dollar, is backed by a corporate guarantee from Dollar Tree Stores, Inc., a publicly traded company with significant financial strength. The lease features attractive, built-in rent increases, offering a hedge against inflation. Landlord responsibilities are minimal, encompassing only roof, structure, and parking lot maintenance. The property enjoys a prime location on a major commercial corridor, benefiting from high traffic counts (approximately 28,900 vehicles daily) and excellent visibility. The surrounding area features strong demographics, with over 59,400 people within a 3-mile radius and an average household income exceeding $107,796. Proximity to major roadways (RI Route 2, I-95, I-295) further enhances accessibility. This is a compelling investment with a strong tenant, favorable lease terms, and a desirable location. The property generates a Net Operating Income (NOI) of $142,849, resulting in an 8.00% capitalization rate.

Location Insight

City

West Warwick

County

Kent

State

Rhode Island

Latitude

41.7152

Longitude

-71.5242

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].