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$850,000

  • For Sale
  • Active
  • Retail
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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.

Full Property Details for 971 Main St

General

  • Price: $850,000
  • Taxes: $15,033 (2024)
  • Status: Active
  • Type: Retail
  • Source: STWMLS
  • MLS ID: 1371980
  • Updated: 12/26/2025
  • Added to Site: 476 day(s) ago

Business

  • Business Type: Bar/Tavern/Lounge, Restaurant, Residential, Retail
  • Year Established: 2017

Additional Information

  • Security/Safety: Fire Alarm, Smoke Detector(s), Varies By Unit

Parking

  • Total Spaces: 20

Location

  • County: Kent
  • Subdivision: Phenix
  • Building Name: Flanagan
  • Near Highway: Yes

Community

  • Units Assoc/Comm: 8

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Wall Unit(s)
  • Heating Type: Forced Air

Utilities

  • Sewer: Connected, Public Sewer
  • Water: Connected, Public
  • Utility Description: Electricity Available, Natural Gas Available, Natural Gas Connected, Municipal Utilities, Phone Available, Sewer Connected, Water Connected

Structural Information

  • # Buildings: 1
  • Detached/Attached: Attached
  • Construction: Brick, Masonry
  • Basement Desc.: None
  • Stories/Levels: 2
  • Building Size: 7200
  • Finished Total: 7,200 Sq. Ft.
  • Finished Above Grnd: 7,200 Sq. Ft.
  • Year Built: 1970
  • Other Struct. Feat.: Public Restrooms

Lot Features

  • Property View: Water
  • Lot Size (Acres): 0.424
  • Lot Size (Sq. Ft.): 18,470
  • Lot Size: 18470
  • Frontage: City Street, Paved
  • Street Lights: Yes
  • Sidewalks: Yes
  • Lot Features: Corner Lot
  • Potential Use: Commercial, Mixed Use, Other, Residential, Retail, Unimproved, Vacant

Water Features

  • Water View: Yes

Financial Considerations

  • Tax Amount: $15,033.6
  • Tax Year: 2024
  • Owner Pays: Parking Fee, Snow Removal, Sewer, Taxes, Water
  • Tenant Pays: Air Conditioning, Electricity, Gas, Heat, Hot Water, Telephone

Disclosures and Reports

  • Documents Avail.: Aerial
  • Inclusions: Turn-Key Restaurant.
  • Property ID: 971MAINSTWWAR
  • Lot Number: 42

Listed by HomeSmart Professionals

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Listing agents

— 971 Main St —

  • HomeSmart Professionals

  • HomeSmart Professionals

401-921-5011

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 971 Main St

School District:West Warwick School District
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 971 Main St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/31/2024
Listed
$850,000
85.79%
MLS
2/13/2017
Sold
$457,500
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 971 Main St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$8,805
100%
$616,200
31%
2024
100%
$469,800
—
2023
100%
$469,800
—
2022
100%
$469,800
2%
2021
100%
$459,900
—
2020
100%
$459,900
—
2019
100%
$459,900
12%
2018
100%
$409,800
—
2017
100%
$409,800
—
2016
100%
$409,800
-1%
2015
100%
$412,100
—
2014
100%
$412,100
—
2013
—
$412,100
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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Listed by HomeSmart Professionals

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971 Main Street, West Warwick, RI 02893 (MLS# 1371980) is a Retail property. 971 Main Street is currently listed for $850,000 and was received on October 31, 2024. Want to learn more about 971 Main Street? Do you have questions about finding other Retail real estate for sale in West Warwick? You can browse all West Warwick real estate or contact a Coldwell Banker agent to request more information.

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