52 Providence StWest Warwick, RI 02893

Property Details for 52 Providence St

Year built

1965

Construction

FRAME

Lot size

0.56 AC

Property size (Sq ft)

3,350 SF

Zone code

CI

Property type

Showrooms

APN

WWAR 017-0044-0-000

APU

WWAR01700440000

Description

This exceptional commercial property at 52 Providence Street, West Warwick, Rhode Island, presents a unique investment opportunity. The property encompasses a substantial 24,394 square foot lot, featuring a two-story, 1965-built building currently operating as a successful Chinese-American restaurant. Boasting 150 seats and ample parking for 80 vehicles, the restaurant benefits from a full liquor license and underwent a complete renovation in 2020, incorporating numerous upgrades. The strategic location within a densely populated residential and business district ensures high visibility and consistent customer traffic. Further enhancing its appeal, the property enjoys direct access to the Washington Secondary Bike trail, presenting additional revenue potential. A spacious, 2400+ square foot basement provides extensive storage capacity. The property is offered for sale at $10,000, with a tenant-in-place lease option available on a NNN basis. This turnkey operation offers immediate income generation and significant long-term growth potential. The property's prime location and established business make it an ideal acquisition for both seasoned investors and first-time buyers seeking a profitable venture in a thriving Rhode Island market. The zip code is 02893.

• CAP approach

  CAP return

  Valuation

  6%

  $814,167

  6.5%

  $751,539

  7%

  $697,857

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,103,032

  Geo Method

  $1,103,032

• Alternative Use

  Use

  Valuation

  Residential

  $633,951

  Hospitality

  $580,696

  Educational

  $483,132

  Medical

  $499,748

  Retail

  $751,539

Location Insight

City

West Warwick

County

Kent

State

Rhode Island

Latitude

41.71

Longitude

-71.5214

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].