Warwick, Rhode Island, offers a unique opportunity for investors to capitalize on the city's growing economy and rich history. With a population of approximately 80,000, Warwick is an attractive location for businesses and individuals alike. Industrial properties in Warwick are a sound investment, providing a stable source of income and potential for long-term growth. These properties can represent a variety of investments, including manufacturing facilities, warehouses, and distribution centers. Warwick's strategic location, with access to major highways and the T. F. Green Airport, makes it an ideal location for businesses that require easy transportation and logistics. The city's strong educational institutions, such as the Community College of Rhode Island, and its skilled workforce also contribute to its appeal. Additionally, Warwick's scenic coastline and historic attractions, such as the Gaspee Affair site, make it a desirable location for businesses and residents alike.
Warwick's industrial properties are situated in a prime location, with nearby access to Interstate 95, Interstate 295, and Route 37. The city's major employers, including Kent Memorial Hospital, Citizens Bank, and UPS, demonstrate the diversity of its economy. In addition to industrial properties, Warwick also offers a range of other property types, including warehouses, land, apartment buildings, and commercial real estate. For example, the city's warehouses are ideal for businesses that require large storage spaces, while its land is suitable for development and construction projects. Apartment buildings in Warwick offer a stable source of income for investors, while commercial real estate provides opportunities for businesses to establish a presence in the city. With 15 industrial properties currently available for sale, investors have a range of options to choose from. The average price per square foot for these properties is $114 USD, with an average size of 18,650 square feet and a largest size of 43,463 square feet. The average cap rate for industrial properties in Warwick is 9.15%.
What is the average price per square foot for industrial properties in Warwick?
The average price per square foot for industrial properties in Warwick is $114 USD.
How do location and transportation access affect industrial property values?
In Warwick, Rhode Island, the location and transportation access of industrial properties significantly impact their values, as proximity to major highways, airports, and transportation hubs can increase property values and attract businesses.
- Industrial properties near Interstate 95, Interstate 295, and Route 37, which provide easy access to Providence, Boston, and New York City, tend to have higher values due to their convenient location and connectivity to major markets.
- The presence of T. F. Green Airport, a major transportation hub, also boosts property values, as it offers a reliever for Logan International Airport and connects Warwick to national and international markets.
- Additionally, industrial properties with proximity to the Warwick Public Schools system, Kent Memorial Hospital, and other major employers in the area may also see increased values due to the availability of a skilled workforce and access to essential services.
