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    875 Westminster St Providence, RI 02903

    Sponsored
    For Sale
    $2,225,000

    Three-story building, prime location, high visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property at 875 Westminster Street in Providence, Rhode Island, presents a remarkable investment opportunity. Boasting 19,625 square feet on a three-story building constructed in 1910, this versatile property is currently configured as a multi-use retail space (pawn, furniture, and jewelry shop). Its prime location in a high-traffic area ensures excellent customer visibility. The building features an elevator for convenient access to all three floors, a comprehensive security alarm system, and a truck loading door for efficient logistics. Ample parking is available with approximately 18 off-street spaces. The property's long-standing business history and diverse zoning potential make it ideal for a variety of uses, from retail to office space. This is a unique chance to acquire a well-established commercial property in a thriving downtown Providence location, offering limitless potential for an owner-occupant or investor seeking a high-return investment. The asking price is $2,225,000.

    Property Features for 875 Westminster St

    General Information

    Property type
    Amusement parks

    Building Details

    Year Built
    1910
    Buildings
    1
    Stories
    3

    HighLights

    • $2,225,000 asking price.
    • 19,625 sq ft lot, three‑story building (1910 construction).
    • Prime Providence, RI location with high foot traffic and visibility.
    • Versatile property currently operating as a multi‑use retail space (pawn, furniture, jewelry).
    • Features elevator access, security system, truck loading door, and approximately 18 off‑street parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Reliable Jewelry & Loan Jewelry Buyer

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4226443
    Latitude
    41.8176717

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    FAQs

    What type of property is this?
    Amusement park - Three-story building, prime location, high visibility
    Where is this amusement park located?
    The property is located at 875 Westminster St Providence, RI.
    What is the asking price?
    The asking price for this property is $2,225,000.
    What are key features of this property?
    This property features: $2,225,000 asking price.; 19,625 sq ft lot, three-story building (1910 construction).; Prime Providence, RI location with high foot traffic and visibility.
    Request Owner's contact information
    875 Westminster St Providence, RI 02903
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    Providence, RI 02903
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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
    875 Westminster St Providence, RI 02903
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