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    512 Prairie Ave Providence, RI 02905

    Sponsored
    For Sale
    $69,900

    Historic building, high-traffic location, great potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property at 512 Prairie Avenue in Providence, Rhode Island, presents a unique investment opportunity. The 4,356 square foot lot features a two-story, 1920s-era building ideally suited for a restaurant or similar commercial venture. Located in the heart of South Providence on a busy street, this property benefits from high visibility and foot traffic. The existing building offers over 1,000 square feet of leasable space and includes existing equipment that can be utilized or replaced to suit a new owner's needs. The property's strategic location is further enhanced by the construction of a 12-unit residential building directly across the street, promising increased residential density and potential customer base. Surrounded by residential properties, this site is perfectly positioned to serve the neighborhood's needs, making it an ideal location for a convenience store or restaurant. The asking price for this property is $69,900. This is a rare chance to acquire a well-situated commercial property in a thriving area of Providence, offering significant potential for growth and return on investment. The property's historical charm combined with its modern-day potential makes it a truly compelling opportunity. Don't miss out on this chance to own a piece of Providence's vibrant commercial landscape.

    Property Features for 512 Prairie Ave

    General Information

    Property type
    Restaurants

    Building Details

    Year Built
    1920
    Buildings
    1
    Stories
    2

    HighLights

    • $69,900 asking price.
    • Land and retail property in Providence, RI.
    • 4,356 square foot lot.
    • 1920 construction, 2‑story building.
    • Located on Prairie Avenue in South Providence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Laotino Takeout Restaurant Family Convenience Market Convenience Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -71.4123337
    Latitude
    41.800165

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    FAQs

    What type of property is this?
    Restaurant - Historic building, high-traffic location, great potential.
    Where is this restaurant located?
    The property is located at 512 Prairie Ave Providence, RI.
    What is the asking price?
    The asking price for this property is $69,900.
    What are key features of this property?
    This property features: $69,900 asking price.; Land and retail property in Providence, RI.; 4,356 square foot lot.
    Request Owner's contact information
    512 Prairie Ave Providence, RI 02905
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    Providence, RI 02905
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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
    512 Prairie Ave Providence, RI 02905
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