834 Admiral StProvidence, RI 02904

Property Details for 834 Admiral St

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.05 AC

Property size (Sq ft)

1,854 SF

Zone code

C-1

Property type

Other commercial real estate

Property subtype

Showrooms

APN

PROV M:124 L:508

APU

PROVM124L508

Description

This exceptional commercial property at 834 Admiral Street in Providence, Rhode Island, presents a unique opportunity for a savvy investor or restaurateur. Boasting 1,912 square feet on a 0.06-acre corner lot, this property comprises two buildings within a strip mall and offers state-of-the-art culinary facilities. The spacious dining area features high chairs and a bar counter, providing a flexible layout adaptable to various concepts. Whether you envision expanding the existing dining space, creating private event areas, or adding new amenities like a coffee shop, the possibilities are endless. Its prime location offers excellent visibility and accessibility, equidistant to Smith Hill, Oakland Avenue, and Elmhurst, placing it within thriving commercial districts and vibrant neighborhoods. The property benefits from convenient access to key transportation arteries, making it easily accessible to customers from across Providence and neighboring areas like North Providence. This turn-key business opportunity is minutes from downtown Providence, offering a blend of historic charm and modern functionality. The building's prominent location and architectural allure make it a recognizable landmark in the community, attracting both local residents and visitors. The asking price is $450,000. This is a rare chance to acquire a thriving business in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $450,587

  6.5%

  $415,926

  7%

  $386,217

• Comparable approach

  Method

  Valuation

  Relative Method

  $610,454

  Geo Method

  $610,454

• Alternative Use

  Use

  Valuation

  Residential

  $350,849

  Hospitality

  $321,376

  Educational

  $267,381

  Medical

  $276,577

  Retail

  $415,926

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.8512

Longitude

-71.4443

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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