3299 Post Road Warwick, RI $ 799,000
3299 Post Road
$ 799,000
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3299 Post Road

Warwick, RI, 02886
$ 799,000
Baths0.0 Sq 4,724

Monthly Estimate*

$ 5,581

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Studio

Commercial Property for sale in Warwick, RI

for $799,000. This 4,724 square foot building was built in 1900 on a lot size of 0.21.

Extremely rare opportunity to own a mixed-use property that includes nine, one-room, single-occupant units, located above a restaurant. Popular Sister's Restaurant, (The old Father's and Son), is on the main level and is located near Warwick City Hall. This unique property is in the heart of Apponaug with great visibility. The well managed property has a 10.3% Cap Rate. Recent upgrades include a new roof (6/23), new gutters (7/23), and a new water heater (5/23). Property is ready to go as all approvals are current including licensure. The Fire Alarm system is up to code. Building is 100% full and all tenants pay their rent electronically. City water and sewer plus natural gas heat. Off-street parking in the newly paved parking area behind the building. Attention investors! Property is being sold AS IS.

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Commercial Active

Price

$ 799,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 10,473

Style

Commercial

Lot Size

0.21

Year Built

1900

Town/City

Warwick

County/Region

Kent

MLS | Web ID

1340138

Features
General
Sewer Connected PublicSewer Sanitary StormSewer
Heating ForcedAir Gas Zoned
Cooling CentralAir
Utilities CableAvailable ElectricityAvailable NaturalGasAvailable NaturalGasConnected MunicipalUtilities PhoneAvailable SewerConnected WaterConnected
Security Features ClosedCircuitCameras CarbonMonoxideDetectors FireAlarm SmokeDetectors
Construction Materials Frame
Year Built 1900
Electric Item200AmpService CircuitBreakers
Tenant Pays PestControl Security Sewer TrashCollection Telephone Water
Stories 2
Levels Two
Property SubType Commercial
Tax Year 2023
Gross Income 116736.0
Business Type BarTavernLounge Restaurant
Community Features HighwayAccess Marina NearHospital NearSchools PublicTransportation Restaurant Shopping StreetLights Sidewalks
County Kent
Net Operating Income 87523.0
Operating Expense 29213.0
Insurance Expense 4000.0
New Construction N
Property Type CommercialSale
Association Amenities Restaurant
HOA / Comm Assn N
Attached Garage N
Subdivision Name Apponaug
Possible Use Investment MixedUse Residential
Garage Y/N N
Building Features PublicRestrooms
Status Active
City Warwick
Buyer Agent Compensation 2.5 VNS
View Y/N N
Senior Community Y/N N
Total Units 1
Lot Size Square Feet 9148.0
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 10
Street Name Post
Property Attached Y/N Y
Land Lease Y/N N
Tax Annual Amount 10473.0
Electric Expense 4900.0
Home Warranty Y/N N
Fuel Expense 2000.0
Water Sewer Expense 800.0
Lease Renewal Y/N Y
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 278
Structure Type MultiFamily
Lease Type NN
Standard Status Active
Occupancy Description Tenant
Tax Assessed Value 421800
Tax Lot 059
Ownership Type SoleProprietor
Cap Rate 9.7
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Interior
Basement Partial
Furnished Y/N Unfurnished
Total Stories 2
Basement (Y/N) Y
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 4724.0
Street Suffix Road
Electric On Property Y/N N
Total Baths 0
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Exterior
Water Source Connected Public
Total Parking 14.0
Inclusions All kitchen equipment and restaurant furniture belongs to the tenant.
Lot Size Area 9148.0
Foundation Details ConcretePerimeter
Number of Buildings 1
Spa N
Building Area Total 4724.0
Lot Size Acres 0.21
Road Surface Type Asphalt Paved
Lot Size Units SquareFeet
Road Frontage Type CityStreet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 3299
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* Excluded Features
List By
Coldwell Banker Realty

Broker

john.chapski@nemoves.com

Email

Affordability Calculator

$6,454
Per Month
86%
14%
0%
Monthly Principal & Interest
$5,581
Monthly Property Taxes
$873
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
248553 Elementary School
248554 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/27/2024$799,000 -6.00% Price Down
1/15/2024$850,000 -2.86% Price Down
11/9/2023$875,000 -2.77% Price Down
7/24/2023$899,900 Listed Price

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3299 Post Road, Warwick, RI, 02886 is a Commercial Property for sale at $799,000 with 4,724 sqft and a lot size of 0.21. 3299 Post Road is a studio with 0.0 baths and was built in 1900. The property's zip code is 02886 which is in Warwick, RI