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    118 Silver Lake Ave Providence, RI 02909

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    For Sale
    $499,000

    Automotive repair facility with strong investment fundamentals and growth potential.

    Property size:
    2,680 SF
    Lot size:
    0.20 Acres

    Property Features for 118 Silver Lake Ave

    General Information

    Size
    2,680 SF
    Lot size
    0.20 Acres

    Source: Coldwell Banker Realty | Providence Agent Alexander Parmenidez

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Commercial Building in Providence

    An opportunity to acquire a commercial building in Providence, currently operating as an automotive repair facility. The sale includes the real estate only. The building provides 2,628 square feet of space on an 8,276 square foot paved lot. There are 20 parking spaces. This property has a 7.2% cap rate and a Debt Service Coverage Ratio (DSCR) of 1.13 at 7% interest, improving to 1.19 at 6.5% interest. The property is suitable for 1031 exchange buyers and regional investors seeking income-producing properties. Given the limited availability of automotive facilities in the Providence market, this is an opportunity to secure a specialty-use building with investment potential and visibility.
    Insight Report Location Intelligence

    Current Use by Public Records

    J&B Auto Repairs, ... Auto Repair Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    PLATINUM CUSTOMS LLC, C & B Auto Truck & Trailer Repair, Gershkoff Auto Body, Emanual Import Tunes & Repair, JA Precision Auto Repair

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4619436
    Latitude
    41.8065832

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    FAQs

    What type of property is this?
    Auto shop - Automotive repair facility with strong investment fundamentals and growth potential.
    Where is this auto shop located?
    The property is located at 118 Silver Lake Ave Providence, RI.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: - Strong 7.2% cap rate and attractive financing metrics.; - 2,628 SF building on an 8,276 SF paved lot with **20 parking spaces**.; - Located in the heart of Providence at 118 Silver Lake Avenue.
    (401) 426-4857
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    Providence, RI 02909
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    118 Silver Lake Ave Providence, RI 02909
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