1113 Charles StNorth Providence, RI 02904

Property Details for 1113 Charles St

Year built

1933

Construction

FRAME

Lot size

0.40 AC

Property size (Sq ft)

9,542 SF

Zone code

CV

Property type

Showrooms

APN

NPRO M:2 L:1

APU

NPROM2L1

Description

This exceptional North Providence property, located at 1113 Charles Street, presents a unique investment opportunity. Built in 1933, this single-building establishment sits on a generous 17,500 square foot lot and has served as a beloved banquet facility and restaurant for decades. The property boasts a rich history, having hosted countless weddings, banquets, and other celebrations, creating lasting memories for generations of patrons. The spacious layout comfortably accommodates up to 290 guests across its two floors, making it ideal for large-scale events and gatherings. Beyond its banquet capabilities, the property also operates a successful restaurant, offering both dine-in and take-out services with prepared foods. This versatile property offers a multitude of potential uses, allowing for the continuation of its established legacy as a banquet hall and restaurant or the exploration of entirely new ventures. The asking price for this landmark property is $1,299,000. The property consists of one unit and is zoned for commercial use. Its prime location in North Providence, Rhode Island (zip code 02904), provides excellent accessibility and visibility. This is a rare chance to acquire a piece of local history with significant potential for future growth and profitability.

• CAP approach

  CAP return

  Valuation

  6%

  $2,319,039

  6.5%

  $2,140,652

  7%

  $1,987,748

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,141,830

  Geo Method

  $3,141,830

• Alternative Use

  Use

  Valuation

  Residential

  $1,805,720

  Hospitality

  $1,654,030

  Educational

  $1,376,133

  Medical

  $1,423,460

  Retail

  $2,140,652

Location Insight

City

North Providence

County

Providence

State

Rhode Island

Latitude

41.8702

Longitude

-71.4256

CBSA code

39300

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].