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    686 Broadway East Providence, RI 02914

    Sponsored
    For Sale
    $799,000

    10,000 SF lot, 2-unit building, high income.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use investment opportunity in East Providence, Rhode Island, presents a compelling blend of commercial and residential income streams. Located at 686 N Broadway, this property boasts a substantial 10,000 square foot lot and a single building constructed in 1920. The property comprises two units: a thriving laundromat business, currently equipped with 31 washers and 23 dryers, and generating significant revenue; and six additional rental units providing consistent rental income from long-term tenants. The laundromat presents substantial growth potential, capitalizing on its established presence and high-traffic location. The combined commercial and residential income streams offer a robust return on investment. This turnkey operation is ideally suited for an investor seeking a stable, high-yield property in a desirable location close to numerous amenities. The property's size and established income make it an attractive proposition for both seasoned investors and those seeking a diversified portfolio. This is a rare opportunity to acquire a well-established, income-producing property in a prime East Providence location. The property is situated in Providence County, Rhode Island, with a zip code of 02914.

    Property Features for 686 Broadway

    General Information

    Property type
    Individual retail properties

    Building Details

    Year Built
    1920
    Buildings
    1
    Units
    2

    HighLights

    • $799,000 asking price.
    • Mixed‑use property with retail and residential components.
    • Two units total: a laundromat and six residential rental units.
    • 10,000 square foot lot.
    • Built in 1920.
    • Located at 686 N Broadway, East Providence, RI 02914.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dragon Super Laundromat Laundry

    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
    East Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3661444
    Latitude
    41.8234574

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    FAQs

    What type of property is this?
    Individual retail property - 10,000 SF lot, 2-unit building, high income.
    Where is this individual retail property located?
    The property is located at 686 Broadway East Providence, RI.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: $799,000 asking price.; Mixed-use property with retail and residential components.; Two units total: a laundromat and six residential rental units.
    Request Owner's contact information
    686 Broadway East Providence, RI 02914
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    East Providence, RI 02914
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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
    686 Broadway East Providence, RI 02914
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