Warwick, Rhode Island, offers a unique opportunity for investors to capitalize on the city's growing demand for dining establishments. With a population of approximately 80,000 residents, Warwick provides a stable customer base for restaurants. Restaurants in Warwick can represent a variety of investments, from casual eateries to fine dining establishments, catering to the diverse tastes and preferences of the local community. The city's amenities, such as Kent Memorial Hospital, Rocky Point State Park, and the Thayer Arena sports facility, attract visitors and locals alike, creating a steady stream of potential customers. Additionally, Warwick's location, approximately 12 miles south of downtown Providence and 63 miles southwest of Boston, makes it an attractive destination for travelers and commuters. The city's rich history, educational institutions, and cultural events also contribute to its appeal, making it an excellent location for restaurants to establish a loyal customer base.
Warwick's restaurant scene is complemented by the city's other commercial properties, including 8 restaurants for sale. The average price per square foot for restaurants in Warwick is $410 USD, with an average size of 4,488 square feet. The largest restaurant property available is 7,000 square feet. Apartment buildings, shopping centers, specialty properties, and hotels also play a crucial role in Warwick's commercial landscape. Apartment buildings, such as those along the Pawtuxet River Valley, offer residents convenient access to local amenities. Shopping centers, like the ones along Route 2, provide a variety of retail options for residents and visitors. Specialty properties, such as the historic Gaspee Affair site, attract tourists and history enthusiasts. Hotels, like those near the T. F. Green Airport, cater to travelers and business professionals. Overall, Warwick's diverse commercial properties create a dynamic and supportive environment for restaurants to succeed.
What is the average cost per square foot for a restaurant in Warwick?
The average cost per square foot for a restaurant in Warwick is $410 USD per square foot, with an average size of 4,488 square feet and a largest size available of 7,000 square feet, among the 8 available listings of restaurants for sale in the area.
What factors determine the value of a restaurant for sale in Warwick?
The value of a restaurant for sale in Warwick is determined by a combination of factors, including:
- Location, with proximity to major highways like Interstate 95, Interstate 295, and Route 37, as well as accessibility to T. F. Green Airport, being highly desirable;
- The average price per square foot, which is currently $410 USD, and the average size of the restaurant, which is approximately 4,488 square feet;
- The restaurant's financial performance, including its average cap rate, which is 4.85%, and its potential for growth and profitability in Warwick's diverse economy.
With 8 available listings of restaurants for sale in Warwick, understanding these key factors is crucial for buyers and sellers to determine a fair market value.
