862 Charles StNorth Providence, RI 02904

Property Details for 862 Charles St

Year built

1983

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.29 AC

Property size (Sq ft)

8,652 SF

Zone code

CV

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

NPRO M:1 L:391

APU

NPROM1L391

Description

This exceptional North Providence, RI investment opportunity encompasses a 12,415 sq ft lot featuring two buildings on 862 Charles Street, zip code 02904. The property is a mixed-use offering, combining residential and commercial components. The residential portion consists of a charming two-family home with two renovated two-bedroom units, ready for immediate rental income. The commercial building, a substantial 7,272 sq ft masonry structure built in 1982, is zoned CV (Commercial Village), providing versatile usage potential. This three-unit building boasts individual utilities for each unit, including three-phase electric, sewer, water, and gas. Modern amenities include an updated fire alarm system and bathrooms in both common areas and individual units. The property's three-story configuration, built in 1983, offers ample space and modern conveniences. This well-maintained property presents a unique opportunity for investors or entrepreneurs seeking a versatile space with built-in income potential. The property's location in Providence County offers easy access to major roadways and amenities. This is a rare chance to acquire a multi-use property with significant income potential and modern amenities. The asking price is $1,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,430,434

  6.5%

  $1,320,401

  7%

  $1,226,086

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,130,470

  Geo Method

  $1,130,470

• Alternative Use

  Use

  Valuation

  Residential

  $1,637,297

  Hospitality

  $1,499,755

  Educational

  $1,247,779

  Medical

  $1,290,692

  Retail

  $1,940,989

Location Insight

City

North Providence

County

Providence

State

Rhode Island

Latitude

41.8606

Longitude

-71.4226

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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