862 Charles StNorth Providence, RI 02904

Property Details for 862 Charles St

Year built

1983

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.29 AC

Property size (Sq ft)

8,652 SF

Zone code

CV

Property type

Investment properties

Property subtype

Live-work space

APN

NPRO M:1 L:391

APU

NPROM1L391

Description

This exceptional North Providence, RI investment opportunity encompasses a 12,415 sq ft lot featuring two buildings on 862 Charles Street, zip code 02904. The property is a mixed-use offering, combining residential and commercial components. The residential portion consists of a charming two-family home with two renovated two-bedroom units, ready for immediate rental income. The commercial building, a substantial 7,272 sq ft masonry structure built in 1982, is zoned CV (Commercial Village), providing versatile usage potential. This three-unit building boasts individual utilities for each unit, including three-phase electric, sewer, water, and gas. Modern amenities include an updated fire alarm system and bathrooms in both common areas and individual units. The property's three-story configuration, built in 1983, offers ample space and modern conveniences. This well-maintained property presents a unique opportunity for investors or entrepreneurs seeking a versatile space with built-in income potential. The property's location in Providence County offers easy access to major roadways and amenities. This is a rare chance to acquire a multi-use property with significant income potential and modern amenities. The asking price is $1,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,630,850

  6.5%

  $1,505,400

  7%

  $1,397,870

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,153,080

  Geo Method

  $1,153,080

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,946,170

  Retail / Commercial

  $1,510,780

  Hospitality / Lodging

  $1,104,460

  Office

  $1,496,450

  Institutional / Educational

  $1,565,010

  Residential Income

  $1,831,060

  Multifamily

  $2,196,070

  Automotive / Energy

  $1,341,430

  Parking / Income-Based Land

  $462,913

  Restaurant / Food Service

  $782,969

  Healthcare / Senior Housing

  $1,543,760

Location Insight

City

North Providence

County

Providence

State

Rhode Island

Latitude

41.8606

Longitude

-71.4226

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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