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Stop & Shop 275 Warwick Ave 52,137 SF Retail Building Cranston, RI 02905 $17,994,282 CAD ($345.13 CAD/SF) 8% Cap Rate



INVESTMENT HIGHLIGHTS
- Long Term Tenant
- Strong Tenant
- Prime Retail Location
- Scheduled Rent Increases
- Zero Management Responsibilities
- High Traffic Counts
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
52,137 SF
Building Class
B
Year Built
2011
Price
$17,994,282 CAD
Price Per SF
$345.13 CAD
Cap Rate
8%
NOI
$1,439,543 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
7.46 AC
Zoning
C5
Parking
333 Spaces (6.39 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- -
- Triple Net
- Aug 2031
Stop & Shop has been around for more than 100 years. A lot has changed in all that time, but what hasn’t changed is their commitment to making their stores better every day for their associates, customers and the community. Today they proudly operate more than 400 stores throughout New York, New England and New Jersey with the help of 60,000 dedicated associates. They let the customer shop their way — in-store, online, for pickup, or home or business delivery.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
Retailer | - | - | Triple Net | Aug 2031 |
Walk Score®
Very Walkable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | CRAN-000004-000005-002659 | Improvements Assessment | $8,464,652 CAD |
| Land Assessment | $3,931,740 CAD | Total Assessment | $12,396,392 CAD |
PROPERTY TAXES
Parcel Number
CRAN-000004-000005-002659
Land Assessment
$3,931,740 CAD
Improvements Assessment
$8,464,652 CAD
Total Assessment
$12,396,392 CAD
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Stop & Shop | 275 Warwick Ave
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