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    15 Patt Ave Cumberland, RI 02864

    For Sale
    $449,900

    Prime RI location, two buildings, high potential.

    Property size:
    1,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional Cumberland, Rhode Island property presents a unique investment opportunity. The offering encompasses two buildings situated on a large 14,980 square foot corner lot, providing maximum street exposure on both Patt Avenue and Eddy Street. The main building, a 1,200 square foot auto repair facility, is fully equipped with a lift, pit, half bath, and heated storage loft. An adjacent 1,000 square foot concrete block garage offers additional storage space. Both buildings are exceptionally well-maintained. The property consists of two legally recorded lots, approximately 10,020 and 4,792 square feet respectively. Built in 1972, this single-story property offers significant potential for continued use as an auto repair shop or repurposing into various other commercial or mixed-use ventures. Its prime location in a primarily residential area provides excellent visibility and accessibility. The property's size and configuration allow for numerous possibilities, including potential subdivision or expansion. This is a rare opportunity to acquire a well-maintained, versatile property in a desirable Rhode Island location. The asking price is $449,900.

    Property Features for 15 Patt Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    1,200 SF

    Building Details

    Year Built
    1972
    Buildings
    2
    Stories
    1
    Units
    1

    HighLights

    • $449,900 asking price.
    • 1,200 SF main building, plus a 1,000 SF storage building on a 14,980 SF lot.
    • Located at 15 Patt Avenue, Cumberland, RI 02864.
    • Property includes two buildings on two combined lots, built in 1972.
    • Currently configured as a fully equipped auto repair shop with a lift, pit, and storage loft.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    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
    Cumberland
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.418357
    Latitude
    41.968279

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    FAQs

    What type of property is this?
    Automotive property - Prime RI location, two buildings, high potential.
    Where is this automotive property located?
    The property is located at 15 Patt Ave Cumberland, RI.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: $449,900 asking price.; 1,200 SF main building, plus a 1,000 SF storage building on a 14,980 SF lot.; Located at 15 Patt Avenue, Cumberland, RI 02864.
    Request Owner's contact information
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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
    15 Patt Ave Cumberland, RI 02864
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