1818 Mineral Spring AveNorth Providence, RI 02904

Property Details for 1818 Mineral Spring Ave

Year built

1990

Construction

STEEL FRAME

Lot size

0.48 AC

Property size (Sq ft)

6,136 SF

Zone code

CP

Property type

Showrooms

APN

NPRO M:18 L:222

APU

NPROM18L222

Description

This exceptional investment opportunity presents a 21,126 square foot commercial land parcel located at 1818 Mineral Spring Avenue in North Providence, Rhode Island, zip code 02904. The property features a single, 6,136 square foot building constructed in 1990. Currently configured as a three-unit strip center, the property boasts a highly desirable location on a heavily trafficked road, directly across from the North Providence Fire and Police Station and adjacent to North Providence High School, ensuring high visibility and consistent traffic flow. The CP zoning allows for a wide range of business uses, making it suitable for retail, office, or service-based tenants. Ample parking is available for tenants and customers. The well-maintained building offers flexible layout options within its over 6,136 square feet of rentable space. This property represents a strong investment opportunity in a thriving area with high demand for commercial real estate, promising a steady income stream for years to come. The asking price for this prime commercial land is $1,699,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,491,262

  6.5%

  $1,376,550

  7%

  $1,278,225

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,020,359

  Geo Method

  $2,020,359

• Alternative Use

  Use

  Valuation

  Residential

  $1,161,171

  Hospitality

  $1,063,627

  Educational

  $884,925

  Medical

  $915,359

  Retail

  $1,376,550

Location Insight

City

North Providence

County

Providence

State

Rhode Island

Latitude

41.8614

Longitude

-71.4607

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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