127 Dorrance StProvidence, RI 02903

Property Details for 127 Dorrance St

Year built

1900

Property size (Sq ft)

1,584 SF

Zone code

D-1-12

Property type

Office properties

Property subtype

Other office properties

APN

PROV M:20 L:261 U:7AR

APU

PROVM20L261U7AR

Description

This exceptional 2,166± square foot office condominium, located at 127 Dorrance Street in Providence, Rhode Island, presents a unique investment opportunity. Situated within a historic Masonic Temple building and renovated in 2018, this property boasts seven private offices, a reception area, a break room, and a conference room. The condo's prime location at the corner of Dorrance Street and Pine Street offers unparalleled convenience, with proximity to the Garrahy Courthouse and easy access to major highways. Multiple nearby parking options cater to both employees and clients. The building's rich history and modern updates combine to create a sophisticated and functional workspace. This single-unit property, built in 1897, offers a blend of character and contemporary amenities, making it ideal for a variety of businesses seeking a prestigious downtown address. The asking price is $299,000. While the lot size is listed as 0 sq ft, this reflects the condo nature of the ownership, not the overall building size. The property is zoned for commercial, traditional office, storefront, executive office, farm, specialty services, and electronics store uses.

• CAP approach

  CAP return

  Valuation

  6%

  $261,883

  6.5%

  $241,738

  7%

  $224,471

• Comparable approach

  Method

  Valuation

  Relative Method

  $206,965

  Geo Method

  $206,965

• Alternative Use

  Use

  Valuation

  Residential

  $299,755

  Hospitality

  $274,574

  Educational

  $228,442

  Medical

  $236,299

  Retail

  $355,354

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.8221

Longitude

-71.41

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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