971 Main ST Active Save Request In-Person Tour Request Virtual Tour
West Warwick,RI 02893
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,200 sqft
Price per Sqft $118
Subdivision Phenix
MLS Listing ID 1371980
Year Built 1970
Annual Tax Amount $15,033
Tax Year 2024
Lot Size 0.424 Acres
Property Sub-Type Commercial
Property 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 NOT Consider Financing.
Location
State RI
County Kent
Community Phenix
Zoning B
Interior
Heating Forced Air
Cooling Wall Unit(s)
Inclusions Turn-Key Restaurant.
Exterior
Community Features Highway Access,Near Hospital,Near Schools,Public Transportation,Recreation Area,Restaurant,Shopping,High Traffic Location,Street Lights,Sidewalks
Utilities Available Electricity Available,Natural Gas Available,Natural Gas Connected,Municipal Utilities,Phone Available,Sewer Connected,Water Connected
View Y/N Yes
View Water
Building
Lot Description Corner Lot
Building Description Brick,Masonry, Public Restrooms
Story 2
Foundation Concrete Perimeter,Slab
Sewer Connected,Public Sewer
Water Connected,Public
Structure Type Brick,Masonry
New Construction No
Others
Virtual Tour https://curbhe.ro/971-Main-St-West-Warwick-RI-AIS