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Cava 1009 Centerville Rd 2,500 SF 4-Star Retail Building Warwick, RI 02886 $3,619,048 ($1,447.62/SF) 5.25% Cap Rate

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INVESTMENT HIGHLIGHTS

Brand-New Lease
Dynamic Tenant
Strategic Retail Location

Attractive Rent Increases
New Construction
Strong Traffic Counts

EXECUTIVE SUMMARY

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire a new construction Cava located at 1009 Centerville Road in Warwick, Rhode Island (the “Property”). The free-standing, single tenant Cava consists of a 2,500-square building, on a 0.65-acre parcel with a pick-up window and outdoor seating area. Cava has a new 15-year Double Net lease with four (4), five-year renewal options. The lease calls for attractive 10% increases every 5 years throughout the primary lease term and at the start of each renewal option. The Property is currently under construction and has an anticipated rent commencement date of July 15, 2025. The new construction Cava is extremely well located between Centerville Road and Bald Hill Road, the area’s primary commercial corridor. The Property is a pad-site to Warwick’s Marketplace Center, where it enjoys excellent visibility and frontage, with accessibility on Centerville Road and from Bald Hill Road via Marketplace Center. Cava is 1-mile from Interstate 95, which offers direct access to Interstate 295 less than 2 miles away, and 1.9-miles from US Route 1. Additionally, the Property is 1.5 miles from the Kent County Memorial Hospital, 2.3 miles from the Community College of Rhode Island, 2.5 miles from the Warwick Mall, and 4 miles from TF Green International Airport. The location is part of a dominant trade area along Bald Hill Road that is home to countless national retailers and restaurants, numerous car dealerships, and several nationally branded hotels that drive traffic to the area.