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Family Dollar 989 Main St 8,400 SF Retail Building West Warwick, RI 02893 $2,371,668 CAD ($282.34 CAD/SF) 8.41% Cap Rate
INVESTMENT HIGHLIGHTS
- Attractive Rent Increases
- Investment Grade Credit
- High Traffic Counts
- Minimal Landlord Responsibilities
- Strategic Retail Location
- Strong Demographics
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a freestanding Family Dollar investment property located at 989 Main Street in West Warwick, Rhode Island (the “Property”). Family Dollar has occupied this build-to-suit location since 2017 and has 4+ years remaining on their lease with seven (7), 5-year renewal options. The lease features attractive rent increases at the start of each renewal option. Family Dollar is positioned at the intersection of Maple Street, East Main Street, and Main Street (RI Route 115), the area’s primary commercial and commuter corridor. The Property enjoys outstanding frontage and visibility and is within 1-mile of municipal offices, the West Warwick Civic Center, and several area schools including the West Warwick High School. The Property is surrounded by densely developed residential neighborhoods that provide a built-in customer base. Additionally, The Property is 1.8-miles from RI Route 2 and 3-miles from Interstates 95 and 295. West Warwick is located in central Rhode Island and is approximately 12-miles south of Providence, RI.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,400 SF
Building Class
B
Year Built
2017
Price
$2,371,668 CAD
Price Per SF
$282.34 CAD
Cap Rate
8.41%
NOI
$199,407 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
0.83 AC
Zoning
B
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | WWAR-000003-000041-000000 | Improvements Assessment | $1,519,394 CAD |
| Land Assessment | $75,441 CAD | Total Assessment | $1,594,834 CAD |
PROPERTY TAXES
Parcel Number
WWAR-000003-000041-000000
Land Assessment
$75,441 CAD
Improvements Assessment
$1,519,394 CAD
Total Assessment
$1,594,834 CAD
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Family Dollar | 989 Main St
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