Downtown Entertainment Lease-to-Own
For Lease
$3,500/Mo NNN (Triple Net)
51 Union #C003, Providence, RI 02903
Open-concept bar and entertainment space offered under a five-year lease-to-own structure with triple-net terms.
Space SizeContact for details
Days on Market61
Property Features for 51 Union #C003
General Information
Standard status
Active
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$10,053
Amenities
Circuit Breakers
Building Details
Year Built
1900
Listing Agency:
INNOVATIONS REALTY
(401) 414-7414
Listed By:
THE ALBA GROUP
Source:
Corcoran
Added: Jun 12
Changed: Aug 10
Last Checked: Aug 11 at 8:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of INNOVATIONS REALTY
Investment Insights
Based on property information with market context.
This lease-to-own commercial condo is well-suited for a bar, lounge, nightclub, or other entertainment concept. The space features an open floor plan that can support a range of setups, including a dance floor area, a stage, or customizable seating. The unit is described as nearly turnkey, with only minor repairs and cosmetic updates needed to become fully operational.
Located in downtown Providence, the property is positioned to benefit from foot traffic and surrounding commercial activity, including nearby restaurants and nightlife. The public remarks also note close proximity to offices and residential developments as well as major thoroughfares.
From an operator’s standpoint, the adaptable layout and entertainment-ready configuration make this property practical for concepts that need flexible floor flow and staging capability. The lease structure is presented as a five-year triple net lease, with the tenant also having an option to purchase at any time during the lease period. Condo fees are noted as varying by month, and CPI increases are described as beginning after the fifth year. See MLS# 1415182 for additional details.
Located in downtown Providence, the property is positioned to benefit from foot traffic and surrounding commercial activity, including nearby restaurants and nightlife. The public remarks also note close proximity to offices and residential developments as well as major thoroughfares.
From an operator’s standpoint, the adaptable layout and entertainment-ready configuration make this property practical for concepts that need flexible floor flow and staging capability. The lease structure is presented as a five-year triple net lease, with the tenant also having an option to purchase at any time during the lease period. Condo fees are noted as varying by month, and CPI increases are described as beginning after the fifth year. See MLS# 1415182 for additional details.
Key Highlights
- Commercial condo in downtown Providence built in 1900, offered under a five‑year lease‑to‑own structure.
- Triple Net lease terms: $3,500/month for 2 years, increasing to $4,500/month for the next 3 years.
- CPI increases after the fifth year; tenant may exercise the option to purchase during the lease period.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
5,839
Businesses Nearby
69k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 62%
Shops & Services 35%
Dining 3%
Renaissance Providence Downtown Hotel
Hotels & Casinos
33,327 visits/mo
0.5 miles
Bank of America
Shops & Services
14,766 visits/mo
0.5 miles
Residence Inn Providence Downtown
Hotels & Casinos
6,054 visits/mo
0.1 miles
Bank of America
Shops & Services
4,543 visits/mo
0.2 miles
Homewood Suites by Hilton Providence Downtown
Hotels & Casinos
3,707 visits/mo
0.3 miles
Demographics for 02903, RI
13,264
Population
6,588
Households
2
Avg Household Size
33
Median Age
53%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,802
Density / Sq Mi
$62,987
Median Household Income
$40,294
Median Earnings
$1,640
Median Rent
$365,600
Median Home Value
Market
Vacancy Rate% for Retail in Providence, RI
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Similar Off Market Nearby
- Tiny Bar — 377 Richmond St, Providence, RI 02903
- Deadbeats — 289 Knight St, Providence, RI 02909
- Dancing Cats Bar — 41 Central St, Providence, RI 02907
- Ibiza Lounge — Summer St, Providence, RI 02903
- La Sonrisa Restaurant — 320 Broad St, Providence, RI 02907
Frequently Asked Questions
What type of property is this?
Night club - Open-concept bar and entertainment space offered under a five-year lease-to-own structure with triple-net terms.
Where is this night club located?
The property is located at 51 Union #C003 Providence, RI.
What is the lease rate?
The lease rate is $3,500/Mo.
What are key features of this property?
This property features: Commercial condo in downtown Providence built in 1900, offered under a five‑year lease‑to‑own structure.; Triple Net lease terms: $3,500/month for 2 years, increasing to $4,500/month for the next 3 years.; CPI increases after the fifth year; tenant may exercise the option to purchase during the lease period.
