2595 W Shore Rd - Freestanding FOR SALE


Warwick, RI 02889
$2,400,000 USD
312-624-7018
2595 W Shore Rd, Warwick, RI for Sale
$2,400,000 USD
Freestanding - FOR SALE
1/4
null | 7.7% Cap Rate

2595 W Shore Rd
Warwick, RI 02889


HIGHLIGHTS

  • Over Three Years Remaining on an Absolute Triple-Net (NNN) Lease
  • Eight (8) Renewal Options Remaining
  • Zero Landlord Responsibilities
  • Strong Commitment to the Site — Tenant Has Operated at This Location for 15 Years
  • Prime Location Near a Signalized Intersection at Sandy Lane and West Shore Road
  • Visibility to Over 22,000 Vehicles per Day

OVERVIEW

Marcus & Millichap is pleased to offer for sale the fee simple interest in an 11,940-square-foot single-tenant pharmacy (the Property) located in Warwick, RI, in which Walgreens has over three years remaining on their long-term absolute triple-net (NNN) lease. The tenant has been operating at this location for 15 years, showing a strong commitment to the site. Additionally, the corporately guaranteed lease still has eight (8), five-year renewal options remaining, potentially extending the lease term expiration until 2068. The Property is strategically located on Warwick’s retail corridor near the signalized intersection of Sandy Lane and West Shore Road with visibility to over 22,000 vehicles per day and is the only pharmacy/drugstore of its type in a 2.5-mile radius. The Property is located only 0.3 miles east of the Warwick Public Schools Technology & Innovation Center and 0.4 miles east of the Warwick Veterans Memorial Middle School. Little Pond, a public freshwater beach for swimming, located 0.6 miles northeast of the Property, is one of the most frequently visited attractions. Additionally, Rhode Island T.F. Green International Airport is located only 3.5 miles west of the Property (12-minute drive). Nearby retailers include Burger King, Starbucks, TD Bank, Taco Bell, Dunkin’, O’Reilly Auto Parts, Subway and numerous others.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$183 USD /SF

CAP RATE

7.7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

49

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

GB

APN/PARCEL ID

WARW-000349-000209-000000

ASK ABOUT THIS PROPERTY

Mitch GrantMarcus & MillichapMore Info
312-624-7018

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Mitch GrantMarcus & MillichapMore Info
312-624-7018

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.