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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

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.
More about this property
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