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    834 Admiral St Providence, RI 02904

    Sponsored
    For Sale
    $150,000

    Thriving Restaurant & Real Estate

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional investment opportunity presents a unique chance to acquire a profitable, established restaurant business and its accompanying real estate in Providence, Rhode Island. The property, known as the Mello Building, boasts a prime corner lot spanning 2,184 square feet, situated equidistant to Smith Hill, Oakland Avenue, and Elmhurst. The building itself comprises two structures, each single-story, totaling three units, and built in 1940. Currently operating as a well-regarded restaurant, the property benefits from multiple established virtual restaurant partnerships with delivery platforms including Chownow, DoorDash, Grubhub, Postmates, Uber Eats, and Popchew, along with Ordermark. These partnerships significantly enhance the business's reach and revenue potential. The asking price is $150,000, offering a compelling 21.43% cap rate. This presents a rare chance to own a landmark property in a bustling commercial area, with the potential for continued growth and high returns. The property can be sold separately or together with MLS#1359808. The property's location within established commercial districts and near key transportation arteries ensures high visibility and accessibility. This is a turnkey operation ready for immediate ownership and potential expansion. The property's historic charm and architectural allure add to its overall appeal and investment value. This is a must-see opportunity for savvy investors seeking a high-return, low-risk venture in a thriving Rhode Island market.

    Property Features for 834 Admiral St

    General Information

    Property type
    Individual retail properties

    Building Details

    Year Built
    1940
    Buildings
    2
    Stories
    1
    Units
    3
    Property Profile Location Intelligence

    Current Use by Public Records

    The Corner Grill Halal Restaurant

    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
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4443379
    Latitude
    41.8511901

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    FAQs

    What type of property is this?
    Individual retail property - Thriving Restaurant & Real Estate
    Where is this individual retail property located?
    The property is located at 834 Admiral St Providence, RI.
    What is the asking price?
    The asking price for this property is $150,000.
    Request Owner's contact information
    834 Admiral St 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
    834 Admiral St Providence, RI 02904
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