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    1005 Charles St North Providence, RI 02904

    Sponsored
    For Sale
    $399,900

    1920s building, 5,227 sq ft lot, high potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional commercial property, located at 1005 Charles Street in North Providence, Rhode Island, presents a compelling investment opportunity. The property consists of a single-story, 1920s-era building situated on a 5,227 square foot lot. Currently, the entire building is occupied by a tattoo parlor under a five-year lease with annual rent increases. The tenant recently completed a full interior renovation. The building's previous layout accommodated multiple tenants, offering flexibility for future use. The property's zoning designation is CV (Commercial Village), allowing for significant expansion potential. This property can be sold in conjunction with the adjacent property at 1007 Charles Street, which houses a long-term burrito restaurant tenant willing to either renew their lease or vacate, depending on the buyer's preference. Both properties are on separate lots, providing further development options. The asking price for 1005 Charles Street is $399,900. This presents a rare chance to acquire a well-located, income-generating property with substantial upside in a thriving commercial area. The property's strong tenant history and flexible zoning make it an ideal investment for both seasoned and emerging commercial real estate investors.

    Property Features for 1005 Charles St

    General Information

    Property type
    Retail properties

    Building Details

    Year Built
    1920
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 1005 Charles Street, North Providence, RI: Single‑story, 1920s building on a 5,227 sq ft lot.
    • Fully occupied by a tattoo parlor under a five‑year lease with annual rent increases; recent full interior renovation.
    • CV zoning allows for expansion; potential for multi‑tenant use.
    • Asking price: $399,900.
    • Potential to purchase adjacent property (1007 Charles Street) with a long‑term restaurant tenant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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.

    Location Insight

    • Map
    • Local Demand
    City
    North Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.423923
    Latitude
    41.8656675

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    FAQs

    What type of property is this?
    Retail property - 1920s building, 5,227 sq ft lot, high potential.
    Where is this retail property located?
    The property is located at 1005 Charles St North Providence, RI.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: 1005 Charles Street, North Providence, RI: Single-story, 1920s building on a 5,227 sq ft lot.; Fully occupied by a tattoo parlor under a five-year lease with annual rent increases; recent full interior renovation.; CV zoning allows for expansion; potential for multi-tenant use.
    Request Owner's contact information
    1005 Charles St North Providence, RI 02904
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    North Providence, RI 02904
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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
    1005 Charles St North Providence, RI 02904
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