Retail properties in Warwick, Rhode Island, offer a unique investment opportunity for those looking to capitalize on the city's strong economy and prime location. With a population of approximately 80,000, Warwick is the third largest city in Rhode Island and is situated just 12 miles south of downtown Providence. Retail properties in Warwick can represent a range of investments, from small, independent shops to larger, big-box stores. The city's diverse economy, which includes major industries such as healthcare, finance, and manufacturing, provides a stable foundation for retail businesses to thrive. Additionally, Warwick's amenities, including Kent Memorial Hospital, Rocky Point State Park, and the Thayer Arena sports facility, make it an attractive location for residents and visitors alike. The city's infrastructure, including the T. F. Green Airport and major highways like Interstate 95 and Interstate 295, also provides easy access to the surrounding area and beyond.
Warwick's retail properties are also situated near a range of other commercial properties, including shopping centers, restaurants, office properties, and hotels. For example, the Warwick Mall, a large shopping center with a variety of retailers, is located just off Interstate 95. Additionally, the city is home to a number of restaurants, including chain establishments and independent eateries. Office properties, such as the Warwick Office Park, provide space for businesses to operate, while hotels like the Crowne Plaza Providence-Warwick offer accommodations for visitors. With 11 retail properties currently available for sale, investors have a range of options to choose from. The average price per square foot for retail properties in Warwick is $317 USD, with an average size of 5,553 square feet. The largest retail property available is 10,690 square feet, offering ample space for a variety of businesses. With an average cap rate of 5.58%, retail properties in Warwick offer a stable investment opportunity.
What is the average cap rate for retail properties in Warwick?
When it comes to investing in retail properties in Warwick, understanding the average cap rate is crucial. According to our data, the average cap rate for retail properties in Warwick is 5.58%, which is a key metric to consider when evaluating potential investments, and you can learn more about what is a cap rate and its significance in our article at what is a cap rate.
How do location and foot traffic affect retail property values?
When it comes to retail properties in Warwick, location plays a significant role in determining property values. Properties situated in high-traffic areas, such as those near major highways like Interstate 95 and Interstate 295, or close to popular amenities like Rocky Point State Park, tend to have higher values due to their increased visibility and accessibility to potential customers.
