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Listed price in listed location currency (USD).
$850,000

0020

MLS® 1371980

Overview

Key Facts

Type 
Levels Commercial Sale
Size 7200 sqft
Garage 
Taxes $15,034
Days Active 562
Lot Size 
Approx. Age 1970
Avg. Price Per Sqft $118
MLS® Number 1371980

Property Address: 971 Main St, West Warwick, RI, 02893-3599

Average square foot calculated using Size range provided by listing agent.

Description

Investment opportunity for to buy the Flanagan Building at the highly visible t-intersection in the heart of Phenix. This property is truly a Phenix that Defies Traditional "Cap Rate" calculations. The Seller seeks an entrepreneurial buyer with enough vision and acumen to realize its true value. This commercial mixed-use building consists of 5 currently leased residential units (three-2bed & two-1bed)(each unit has own water tank & Furnace), that sit atop 3 vacant, commercial units (Could be Zoned for 5 Commercial?? - see additional Tax Card #2), awaiting your vendors unique specifications to launch their businesses. The 1st Commercial Unit was a Bar for 30 years, and has been completely gutted, but for the HVAC Return and duct work. It is plumbed for 2 Restrooms and a kitchenette space, and ready to be rebuilt to your specs. The 2nd, middle unit has a fully equipped kitchen (former Take-out), perfect for a stand alone, take-out restaurant, or retrofitted to augment the adjacent unit, that could to be built-out to spec as a pub/tavern. The 3rd unit is move-in ready, awaiting your new tenant's specs . Both parking lots exceed commercial and residential needs. Agents and Buyers are to exercise their own due diligence as to the permits and zoning of the building's past and present layout, configuration, and usage. General Selling Terms: AS-IS & at ASKING PRICE (traditional Cap Rates do not apply). Seller Will Consider Financing.
MLS® Number1371980
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1970
BasementNone
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Oct 31, 2024List Date
$850,000List Price

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