61 Weybosset StProvidence, RI 02903

Property Details for 61 Weybosset St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.10 AC

Property size (Sq ft)

12,835 SF

Zone code

D-1-30

Property type

Other commercial real estate

Property subtype

Showrooms

APN

PROV M:20 L:150

APU

PROVM20L150

Description

This exceptional three-story, 4,397 sq ft building at 61 Weybosset Street in Providence, RI, presents a unique opportunity for businesses seeking a vibrant downtown location. Built in 1920, this property offers two units, currently configured as office space, but adaptable to various uses including retail, medical, or flex space. The building's central location provides convenient access to major transportation routes, restaurants, cafes, and cultural attractions. The spacious layout allows for flexible design to accommodate diverse business needs. Units 2 and 3 (second and third floors) are available for lease, each offering ample room for collaboration and innovation. However, the owner is open to leasing the first floor instead of the second or third floor, providing flexibility to suit specific requirements. All units are available for viewing. The asking price for this exceptional property is $26 million. This is an ideal opportunity for businesses seeking growth and a prominent presence in the heart of Providence.

• CAP approach

  CAP return

  Valuation

  6%

  $3,119,353

  6.5%

  $2,879,403

  7%

  $2,673,731

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,226,093

  Geo Method

  $4,226,093

• Alternative Use

  Use

  Valuation

  Residential

  $2,428,884

  Hospitality

  $2,224,845

  Educational

  $1,851,045

  Medical

  $1,914,705

  Retail

  $2,879,403

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.824

Longitude

-71.4101

CBSA code

39300

CBSA name

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

Property Tax & Assessments

FAQs

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