665 Plainfield StProvidence, RI 02909

Property Details for 665 Plainfield St

Year built

1960

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.42 AC

Property size (Sq ft)

1,260 SF

Zone code

C-1

Property type

Showrooms

APN

PROV M:112 L:418

APU

PROVM112L418

Description

This exceptional 0.42-acre property at 665 Plainfield Street in Providence, Rhode Island, presents a lucrative investment opportunity. Priced at $950,000, this general commercial property boasts full approvals for a dynamic mixed-use development. The project encompasses six high-visibility commercial units ideally situated in a bustling, high-traffic area, guaranteeing maximum exposure for tenants. Complementing the commercial spaces are twenty-four thoughtfully designed residential apartments, promising substantial rental income. The comprehensive plans are already approved, eliminating lengthy delays and allowing for immediate development commencement. This turnkey project offers a rare chance to capitalize on a prime location and a proven business model, generating both commercial and residential revenue streams. The property's strategic positioning ensures strong tenant demand and consistent cash flow. This is an unparalleled opportunity for investors seeking a high-return, low-risk investment in a thriving Rhode Island market. Don't miss this chance to acquire a property with significant income potential and immediate development viability. Act now to secure this exceptional investment.

• CAP approach

  CAP return

  Valuation

  6%

  $306,224

  6.5%

  $282,668

  7%

  $262,478

• Comparable approach

  Method

  Valuation

  Relative Method

  $414,872

  Geo Method

  $414,872

• Alternative Use

  Use

  Valuation

  Residential

  $238,441

  Hospitality

  $218,411

  Educational

  $181,715

  Medical

  $187,965

  Retail

  $282,668

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.8125

Longitude

-71.4609

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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