Triple Net Bar or Office
For Lease
$3,500/Mo NNN (Triple Net)
55 Union #C002, Providence, RI 02903
Commercial condo with flexible layout for hospitality or professional office use under a five-year triple net lease.
Space SizeContact for details
Days on Market62
Property Features for 55 Union #C002
General Information
Standard status
Active
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,428
Amenities
Corner Lot
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 8:49AM
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 offering is a commercial condo unit available for lease under a five-year triple net structure. The space is described as having an open and adaptable layout that can support a range of concepts, including a bar, restaurant, café, or professional office. The property also references condo fee costs that vary by month, and it notes future rent adjustments tied to the lease term.
The unit is positioned in downtown Providence and is described as within walking distance of Providence Place Mall and City Hall. It is also characterized as being surrounded by thriving businesses, restaurants, and residential developments. In addition, the property highlights easy access to major highways and strong pedestrian and vehicular traffic.
For tenants or owner-users seeking a centrally located footprint with layout flexibility, this unit’s stated suitability for both hospitality and office use can help match different operating models. It may also be considered by investors looking for a structured triple net lease with scheduled rent increases over the five-year term, subject to the condo fee costs referenced in the offering details. For complete lease terms and condo fee specifics, refer to the listing information and MLS reference provided.
The unit is positioned in downtown Providence and is described as within walking distance of Providence Place Mall and City Hall. It is also characterized as being surrounded by thriving businesses, restaurants, and residential developments. In addition, the property highlights easy access to major highways and strong pedestrian and vehicular traffic.
For tenants or owner-users seeking a centrally located footprint with layout flexibility, this unit’s stated suitability for both hospitality and office use can help match different operating models. It may also be considered by investors looking for a structured triple net lease with scheduled rent increases over the five-year term, subject to the condo fee costs referenced in the offering details. For complete lease terms and condo fee specifics, refer to the listing information and MLS reference provided.
Key Highlights
- Commercial condo in downtown Providence with a flexible layout suitable for a bar, restaurant, café, or professional office
- 5‑year triple net lease with rent of $3,500/month for 2 years, increasing to $4,500/month for the next 3 years
- CPI increases following the fifth year; condo fee costs vary per month
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
5,839
Businesses Nearby
Explore this area
Business Placement
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 Office in Providence, RI
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Frequently Asked Questions
What type of property is this?
NNN property - Commercial condo with flexible layout for hospitality or professional office use under a five-year triple net lease.
Where is this nnn property located?
The property is located at 55 Union #C002 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 with a flexible layout suitable for a bar, restaurant, café, or professional office; 5‑year triple net lease with rent of $3,500/month for 2 years, increasing to $4,500/month for the next 3 years; CPI increases following the fifth year; condo fee costs vary per month
