489 Elmwood AveProvidence, RI 02907
- Investment properties
- 3,953 SF
Property Details for 489 Elmwood Ave
- Year built
- 1900
- Construction
- FRAME
- Lot size
- 0.11 AC
- Property size (Sq ft)
- 3,953 SF
- Zone code
- C-1
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- PROV M:49 L:389
- APU
- PROVM49L389
Description
Exceptional opportunity to acquire a 4,804 sq ft commercial lot at 489 Elmwood Avenue in Providence, RI, 02907. Built in 1900, this property features one building and is zoned for retail use. The asking price is $70,000. Included in the sale are existing fixtures such as racks and display units, essential equipment (fax, phone, register, camera system), and inventory at the time of purchase. A designated parking space in a secure gated area is also provided. Optional dumpster access is available for a fee. Supplier information and a side office are included. Currently operating as a clothing store with a diverse inventory (men's, women's, children's apparel and travel merchandise), this versatile property offers numerous business possibilities. A three-year lease is required post-purchase to ensure a smooth transition. This presents a unique chance to own a well-established business in a vibrant, historic neighborhood. The property's central location and existing infrastructure make it an ideal investment for a variety of commercial ventures. This is a rare opportunity to acquire a turnkey business with significant potential for growth and profitability in a desirable Providence location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $653,549
- 6.5%
- $603,276
- 7%
- $560,185
-
Comparable approach
- Method
- Valuation
- Relative Method
- $516,499
- Geo Method
- $516,499
-
Alternative Use
- Use
- Valuation
- Residential
- $748,062
- Hospitality
- $685,221
- Educational
- $570,096
- Medical
- $589,702
- Retail
- $886,816
Location Insight
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Latitude
- 41.7988
- Longitude
- -71.4267
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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