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    529 Broadway Providence, RI 02909

    Sponsored
    For Sale
    $925,000

    Prime Providence location, 4 units, high potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 529 Broadway in Providence, Rhode Island's desirable Federal Hill neighborhood, presents a compelling investment opportunity. The property encompasses a 12,385 square foot lot and includes two buildings, each three stories high, constructed in 1883. Currently featuring four spacious units, the property offers significant potential for expansion. The existing units boast high ceilings, large apartments, and architectural details characteristic of the neighborhood's historical charm. Each unit is generously sized and presents the possibility of condo conversion, maximizing future rental income. An accessible walk-up attic provides additional space for expansion, potentially creating more living areas. A detached garage with a loft offers further development potential, possibly convertible into an additional income-generating unit or a studio apartment. The property also includes a buildable lot at 533 Broadway, offering further development options. Its prime location provides easy access to Federal Hill's vibrant culinary scene, including bakeries, restaurants, and coffee shops, as well as major highways, downtown Providence, Brown University, and local schools. This unique offering is ideal for investors and developers seeking a versatile property with exceptional growth potential in a highly sought-after area. The property's blend of historical charm and modern potential makes it a rare find in the heart of Federal Hill.

    Property Features for 529 Broadway

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1883
    Buildings
    2
    Stories
    3
    Units
    4
    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
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4361925
    Latitude
    41.8184479

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Providence location, 4 units, high potential.
    Where is this office property / space located?
    The property is located at 529 Broadway Providence, RI.
    What is the asking price?
    The asking price for this property is $925,000.
    Request Owner's contact information
    529 Broadway 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
    529 Broadway Providence, RI 02909
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