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    664 Plainfield St Providence, RI 02909

    For Sale
    $1,100,000

    Dual-building property, high ROI potential.

    Property size:
    12,504 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    Exceptional investment opportunity in Providence, Rhode Island, featuring a unique dual-building parcel on a 5,227 square foot lot. This property offers a blend of immediate income and future growth potential. One building is fully operational, housing two commercial units and three updated, three-bedroom residential units. The second building is approximately 70% complete and will add two more commercial units and four residential units upon completion. The existing building generates a net operating income (NOI) of $160,000. The projected rent for the unfinished building is $9,000 per month. In total, the property comprises 12,504 square feet and eleven units, presenting a significant opportunity for substantial profitability. This corner lot property is ideally situated in the heart of Providence, offering investors a chance to diversify their portfolio and capitalize on the city's thriving real estate market. The asking price for this rare investment opportunity is $1,100,000.

    Property Features for 664 Plainfield St

    General Information

    Property type
    Land
    Square Feet
    12,504 SF

    HighLights

    • $1,100,000 asking price.
    • Special purpose property with land, classified as commercial other.
    • 12,504 square feet total building area.
    • 5,227 square foot lot size.
    • Located at 664 Plainfield Street, Providence, RI 02909.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shirtcollection Store Store

    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
    -71.4610019
    Latitude
    41.812207

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    FAQs

    What type of property is this?
    Land - Dual-building property, high ROI potential.
    Where is this land located?
    The property is located at 664 Plainfield St Providence, RI.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: $1,100,000 asking price.; Special purpose property with land, classified as commercial other.; 12,504 square feet total building area.
    Request Owner's contact information
    664 Plainfield St Providence, RI 02909
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    Providence, RI 02909
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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
    664 Plainfield St Providence, RI 02909
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