1174 Douglas Ave North Providence, RI 02904-5338

Property Details for 1174 Douglas Ave

Year built

1930

Construction

FRAME

Lot size

0.29 lot acres

Property size

6,362 SF

Zone code

MG

Property type

Investment properties

Property subtype

Live-work space

APN

NPRO M:6 L:350

APU

NPROM6L350

Description

This exceptional mixed-use property in North Providence, Rhode Island, presents a rare investment opportunity. Located at 1174 Douglas Ave, this 8,900 square foot property sits on a 52,969 square foot lot and comprises four buildings: a 7,700 square foot autobody shop/mechanic garage and a two-unit multi-family residence. The autobody shop is fully equipped with two indoor lifts, one outdoor lift, two flatbed trucks, two forklifts (including an 8000lb long forklift), and extensive parts inventory (excluding used cars). Active autobody, mechanic, towing, salvage, and dealer licenses are in place, making this a turnkey business. The operational security camera system enhances safety and security. The two-unit multi-family residence offers separate entrances and utilities, currently generating $1,100 and $900 in monthly rental income respectively, providing immediate cash flow. Built in 1965, the property boasts 100% occupancy and a strong NOI of $87,000, resulting in an 8.88% cap rate. This property offers significant upside potential for both the commercial and residential components, making it an attractive investment for entrepreneurs and income-seeking investors alike. The property's size and diverse income streams provide a stable and lucrative investment opportunity in a desirable Rhode Island location. The asking price is $979,900, with a price per square foot of $110.10.

Location Insight

City

North Providence

County

Providence

State

Rhode Island

Longitude

-71.4449

Latitude

41.8575

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments