USARIProvidenceBroad Street3-550 Broad St

3-550 Broad St, Providence, RI

House

For Sale

Listed price in listed location currency (USD).

$2,650,000

0030

MLS® 1423442

Overview

Key Facts

Type

Levels Commercial Sale

Size -

Garage

Taxes $10,077

Days Active 3

Lot Size 8276 SF

Approx. Age 1900

MLS® Number 1423442

Property Address: 3-550 Broad St, Providence, RI, 02907-1445

Average square foot calculated using Size range provided by listing agent.

Description

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.

MLS® Number1423442

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1900

BasementFull

Driveway

Garage Spaces

HeatBaseboard, Common, Gas, Steam

A/CDuctless, One Unit, Window Units, Central Air

Extras

...Expansion, additional residential or commercial uses, or a larger mixed-use project, subject to zoning, permitting, approvals, and buyer due diligence. Strong traffic, location, existing income, commercial visibility, substantial parking, and potential for future development create a compelling investment opportunity. Operating expenses and additional financial information are available upon request. Properties are being sold AS IS. Buyer to perform all due diligence regarding zoning, permits, unit count, parking, licensing, restaurant operations, development potential, intended use, expenses, income, and all required approvals.

Map

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