Real Estate Auction: West Warwick, RI - Prime Development Opportunity - Historic Stone Mill Building

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Prime Development Opportunity - 34,000+/- sf. Historic Stone Mill Building k/a "The Cotton Shed" on 3.6+/- acres - Under Conversion to Retail & Commercial Space

JJManning Auctioneers is proud to offer this 34,000+/- sf. historic stone mill building, which was constructed circa 1890 as a 3-story cotton storage warehouse. The building has tremendous potential for a wide variety of uses including retail, restaurant, professional, and more. It is currently undergoing conversion to 2 levels of retail and commercial space with each floor configured for 3 similar size units with 12'+ exposed wood beam ceilings. The lower level is on grade with Hay Street and the upper level is on grade with the parking lot and features new storefront windows. A new monitor/clearstory roof lets in light and allows for some 14' ceilings. There is an unfinished basement for systems and storage. Redevelopment of the site is estimated to be approximately 75% complete.

At the merger of I-95 & I-295, Warwick is known as the "retail capital" of Rhode Island. This prime development property is located in a busy, high visibility area of West Warwick next to the new Royal Mills at Riverpoint residential development overlooking the Pawtuxet River. Mill Re-Use Zone offers potential for additional uses and tax incentives. Neighborhood attractions include Riverpoint Park, riverwalk, bikepath, Roger Williams Park & Zoo, Valley Country Club, the Warwick Mall, and major retailers including Super Stop & Shop, Home Depot, Barnes & Noble, and TJ Maxx.

Zoning: CI - Commercial Industrial, Mill Re-Use Zone
Frontage: 268+/- ft. Providence St., 179+/- ft. Hay St. w/ curb cut, 592+/- ft. Pawtuxet River
Parking: 92+/- cars, undercoat paved over an engineered water retention system designed to control on-site drainage
Utilities: All standard utilities available including city water & sewer

Terms of Sale include a $50,000 certified deposit to be presented in cash, certified or bank check at auction. Balance in 45 days. Full terms found in property info package.

Auction: Thursday, October 15, 2009 at 11:00 am. Bid Live On-Site

Please visit http://www.JJManning.com for more information.

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JUSTIN MANNING
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