1700 Mineral Spring AveNorth Providence, RI 02904

Property Details for 1700 Mineral Spring Ave

Year built

1935

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.24 AC

Property size (Sq ft)

1,856 SF

Zone code

CG

Property type

Other commercial real estate

Property subtype

Showrooms

APN

NPRO M:19 L:436

APU

NPROM19L436

Description

This exceptional 1,400 square foot single-tenant office space, located at 1700 Mineral Spring Avenue in North Providence, Rhode Island (zip code 02904), presents a unique investment opportunity. Situated on a 10,454 square foot lot, this new construction boasts a modern design, originally intended for a dry cleaner but adaptable to various uses. The building features high ceilings and an open layout, perfect for creating a customized workspace. Completion is scheduled for early June. The property benefits from a prime location at the corner of Mineral Spring and Douglas Avenues, experiencing high traffic volume exceeding 25,000 cars daily. This ensures excellent visibility and accessibility for your business. The building is a single-story structure with a total of 15 parking spaces, providing ample convenience for clients and employees. The main building space will be occupied by a Sam's Club, creating a synergistic environment and attracting significant foot traffic. This property is ideal for executive or medical office use, offering a blend of modern design and high-traffic location. Renderings and additional photos will be available soon. The property is classified as Retail, Office, and Restaurant, and is currently zoned for Executive Office and Medical Office use.

• CAP approach

  CAP return

  Valuation

  6%

  $451,073

  6.5%

  $416,375

  7%

  $386,634

• Comparable approach

  Method

  Valuation

  Relative Method

  $611,112

  Geo Method

  $611,112

• Alternative Use

  Use

  Valuation

  Residential

  $351,228

  Hospitality

  $321,723

  Educational

  $267,670

  Medical

  $276,875

  Retail

  $416,375

Location Insight

City

North Providence

County

Providence

State

Rhode Island

Latitude

41.863

Longitude

-71.4534

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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