550 Broad Street 3, Providence, RI 02907
sale
$2,650,000
|
Other
Courtesy Of Residential Properties Ltd.
INVESTMENT & DEVELOPMENT OPPORTUNITY! Three individual properties being sold together: 550 & 568 Broad Street and 118 Comstock Avenue, Providence, RI. A unique portfolio offering current rental income, commercial space, restaurant potential, substantial parking, and the vision for future redevelopment. Located in a high-traffic area just minutes from Downtown Providence, with approximately 30-40 parking spaces across the properties. 118 Comstock Avenue is a three-story commercial/residential building on a 6,234+/- sq. ft. lot, offering approximately 3,107 sq. ft. with 9 one-bedroom units, including 3 units currently under renovation. 550 Broad Street is a three-story, air-conditioned building offering approximately 5,243 sq. ft. on a 7,332+/- sq. ft. lot with paved parking and 8 one-bedroom units, 8 Baths, with potential for 2 additional units, subject to required approvals. 568 Broad Street offers approximately 1,871 sq. ft. of updated restaurant/commercial space with paved parking, a new mini-split system, updated interior, one bathroom, and seating for approximately 15 guests, with potential for additional seating. The established El Rincon restaurant business is also available separately.The portfolio currently has 11 tenants in place, with several vacant units and 3 units under renovation, offering value-add potential through renovation and leasing. For the investor with a larger vision, the combined properties may provide an opportunity to explore future redevelopment, ETC.
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Property Features
- Age: Over 50 Years Old
- Amenities: Basement
- Amenities: Security System
- Architecture Style: Victorian
- Cooling System: Window Unit(s)
- Cooling System: Ductless
- Exterior Type: Masonry
- Exterior Type: Brick
- Floors: 3
- Heating System: Baseboard
- Heating System: Steam
- Heating System: Central
- Heating System: Natural Gas
- MLSID: 1423442
- Parking Spaces: 30
- Rooms: Basement
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