1943 Putnam PikeGlocester, RI 02814

Property Details for 1943 Putnam Pike

Year built

1940

Construction

FRAME

Lot size

0.50 AC

Property size (Sq ft)

2,560 SF

Zone code

20

Property type

Showrooms

APN

GLOC M:007 B:075

APU

GLOCM007B075

Description

This exceptional 3,520 sq ft retail property, situated on a 34,412 sq ft lot, presents a unique investment opportunity. The two-story building, featuring a total of 75 parking spaces, is ideally suited for automotive businesses. Currently undergoing revitalization, with completion slated for July 1st, the property boasts two rentable shops. One shop includes three garage bays, a lift, restroom, and office space, available for $3,300 per month. The second shop offers two garages with a paint booth, and potential for second-floor office expansion, with pricing adjusted accordingly. The property is zoned 0020 and offers a fenced area for security, ample parking for up to 75 vehicles (with capacity for 25 unregistered and 50 registered/operable vehicles), and a license for auto body repair. Located on a high-traffic route near the Connecticut border, this over ¾ acre lot provides excellent visibility and accessibility. The property is available for lease as a whole ($5,000/month, $1.42 PSF) or individually. Showings are by appointment only; please do not trespass on the property.

• CAP approach

  CAP return

  Valuation

  6%

  $484,270

  6.5%

  $447,019

  7%

  $415,089

• Comparable approach

  Method

  Valuation

  Relative Method

  $347,869

  Geo Method

  $347,869

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $871,730

  Mixed-Use / Specialty

  $445,425

  Hospitality / Lodging

  $326,794

  Office

  $442,779

  Institutional / Educational

  $463,062

  Residential Income

  $541,783

  Multifamily

  $649,785

  Automotive / Energy

  $396,911

  Parking / Income-Based Land

  $136,969

  Restaurant / Food Service

  $231,669

  Healthcare / Senior Housing

  $456,775

Location Insight

City

Chepachet

County

Providence

State

Rhode Island

Latitude

41.9215

Longitude

-71.738

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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