460 Allens AveProvidence, RI 02905

Property Details for 460 Allens Ave

Year built

1970

Construction

FRAME

Lot size

0.25 AC

Property size (Sq ft)

1,670 SF

Zone code

W-3

Property type

Other commercial real estate

Property subtype

Showrooms

APN

PROV M:55 L:432

APU

PROVM55L432

Description

This 1,670 square foot freestanding restaurant building, situated on a 10,976 square foot lot, presents a unique investment opportunity in Providence, RI. Built in 1970, this single-story structure boasts 17 parking spaces and a highly desirable drive-thru. Its strategic location on Allens Avenue, directly at the I-95 on-ramp and across from the off-ramp, ensures exceptional visibility and accessibility. The property benefits from its proximity to major thoroughfares connecting downtown Providence to the Sassafras Point industrial/commercial zone and densely populated neighborhoods like Washington Park, Edgewood, and South Providence. The convenient location also places it within easy reach of Rhode Island Hospital. Currently occupied by a HoneyDew franchisee with a lease expiring February 2025, the property offers considerable flexibility. The owner is open to various proposals, and lease terms are negotiable. Providence County taxes are $11.13 per square foot. This property is ideal for a large franchise or similar business seeking high traffic exposure and convenient access to a diverse customer base.

• CAP approach

  CAP return

  Valuation

  6%

  $405,868

  6.5%

  $374,648

  7%

  $347,887

• Comparable approach

  Method

  Valuation

  Relative Method

  $549,870

  Geo Method

  $549,870

• Alternative Use

  Use

  Valuation

  Residential

  $316,029

  Hospitality

  $289,481

  Educational

  $240,845

  Medical

  $249,128

  Retail

  $374,648

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.8009

Longitude

-71.4002

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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