Investment Property Warren Route 114 / Main St Corner Location

Listing was updated at: 06/03/2019
Property Overview
Price/Rent PSF $ 795,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 8,762
Date Available 11/30/2018
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Floors 2
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Seaside town with art studios, boutiques, theater, great restaurants, antiques, and a great bike path.

Great Opportunity to Invest in a Very Up & Coming Historic Downtown area in Warren, known for its great restaurants, East Bay Bike path, waterfront, theater and artistic community. Located on one of the most highly visible blocks in downtown, w/high foot and car traffic (nearly 25,600 is the average daily traffic count), near busy coffee shops and Federal Hill Pizza restaurant. All residential units have been totally renovated. Updated high efficiency heating system, electric and fire system. All units have high 12' ceilings, offering lots of natural light with great window visibility for a retail & food & beverage business. There is street parking & municipal lots across the street. Also located on the public transportation rt. to Providence & Newport. Warren is centrally located w/easy access to highway & only 15 minutes to Providence, 25 minutes to Newport, and 1 hour to Boston or Cape Cod. There are many interesting possibilities with this property! This property is currently producing $81,180, approximately at a 8% CAP RATE with only one vacancy. When last vacancy is rented gross income anticipated at $90,780 before upcoming increases.