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    21 Whitehall St Whitehall St Providence, RI 02909

    For Sale
    $710,000

    Two-building lot, high ROI potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a rare chance to acquire a 5,174 square foot commercial and residential land parcel in the heart of Providence, Rhode Island. The property, located at 21-23 Whitehall Street, zip code 02909, consists of two buildings constructed in 1900. The site offers significant potential for redevelopment or continued operation as a multi-family property. Currently, the property includes seven units, comprising six one-bedroom, one-bathroom units and one two-bedroom, one-bathroom unit. Recent improvements include new roofs, mechanical systems, and a fire suppression system. The property boasts a strong cap rate of 8.80% and is listed at $710,000. Its central Providence location provides easy access to major highways and amenities, making it highly attractive to tenants. Tenants are responsible for their own utilities. This turnkey property offers a compelling opportunity for passive income and future appreciation, presenting a low-maintenance, high-return investment. The property's layout and location contribute to its strong value proposition. This is an ideal investment for those seeking a hassle-free, high-yield property with significant upside potential.

    Property Features for 21 Whitehall St Whitehall St

    General Information

    Property type
    Land

    Building Details

    Year Built
    1900
    Buildings
    2

    HighLights

    • Exceptional investment opportunity: 5,174 sq ft commercial/residential land parcel in Providence, RI (02909).
    • Two buildings (1900 construction) at 21‑23 Whitehall Street.
    • Seven units: six 1‑bed/1‑bath, one 2‑bed/1‑bath.
    • Recent upgrades: new roofs, mechanical systems, fire suppression.
    • 8.80% cap rate, listed at $710,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4462099
    Latitude
    41.8121824

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    FAQs

    What type of property is this?
    Land - Two-building lot, high ROI potential.
    Where is this land located?
    The property is located at 21 Whitehall St Whitehall St Providence, RI.
    What is the asking price?
    The asking price for this property is $710,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 5,174 sq ft commercial/residential land parcel in Providence, RI (02909).; Two buildings (1900 construction) at 21-23 Whitehall Street.; Seven units: six 1-bed/1-bath, one 2-bed/1-bath.
    Request Owner's contact information
    21 Whitehall St Whitehall St 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
    21 Whitehall St Whitehall St Providence, RI 02909
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