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    1158 North Providence, RI 02904

    Sponsored
    For Sale
    $3,200,000

    High-Yield Residential & Commercial

    Property size:
    21,304 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity in North Providence, RI, presenting a lucrative blend of residential and commercial income streams. This expansive 26,303 sq ft property encompasses five buildings totaling 21,304 sq ft, including two three-family homes and multiple commercial units currently generating rental income. The residential units, each boasting full kitchens, pantry nooks, and basement washer/dryer hookups, are fully occupied. The commercial spaces, currently utilized for retail and studio purposes, are also fully leased. Two additional, decommissioned two-bedroom apartments offer significant upside potential for increased rental income. Conveniently located near US-1, Miriam Hospital, and Brown University, this property benefits from high visibility and accessibility, further enhanced by its prominent Shepard Fairey billboard. The property also includes an ample overflow parking lot and detached garages, providing additional revenue streams. The assessed value reflects the combined value of 1158, 1166, 1172 N Main and 81 Nashua Street. Detailed unit information, approximate square footage, and financial data are available upon request. This unique offering presents a rare chance to acquire a well-established, high-performing mixed-use portfolio in a desirable Rhode Island location. Nine units in total are included in this offering. The property was built in 1900.

    Property Features for 0 1158

    General Information

    Property type
    Automotive properties
    Square Feet
    21,304 SF

    Building Details

    Year Built
    1900
    Buildings
    5
    Units
    9

    HighLights

    • $3,200,000 asking price.
    • 21,304 square feet, 26,303 square foot lot, 5 buildings, 9 units.
    • Mixed‑use property including residential (three‑family buildings), retail, and office space; plus parking.
    • Located in Providence, RI, near US‑1, Miriam Hospital, and Brown University.
    • Currently generating rental income from all residential and commercial units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Map

    City
    North Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4358733
    Latitude
    41.8668281

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    FAQs

    What type of property is this?
    Automotive property - High-Yield Residential & Commercial
    Where is this automotive property located?
    The property is located at 1158 North Providence, RI.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: $3,200,000 asking price.; 21,304 square feet, 26,303 square foot lot, 5 buildings, 9 units.; Mixed-use property including residential (three-family buildings), retail, and office space; plus parking.
    Request Owner's contact information
    1158 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
    1158 North Providence, RI 02904
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