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$700,000

  • Sold
  • Closed
  • 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

  • Sold For: $700,000
  • Taxes: $15,033 (2024)
  • Status: Closed
  • Type: Retail
  • Source: STWMLS
  • MLS ID: 1371980
  • Added to Site: 624 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 RE/MAX Revolution and REMAX Revolution

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— 971 Main St —

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NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Schools serving 971 Main St

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

Price & Sales History for 971 Main St

Date
Details
Price
Change
Source
6/30/2026
Sold
$700,000
-17.65%
MLS
10/31/2024
Listed
$850,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by RE/MAX Revolution and REMAX Revolution

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971 Main Street, West Warwick, RI 02893 (MLS# 1371980) is a Retail property that was sold at $700,000 on June 30, 2026. 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.