11 Peck St Providence, RI 02903
- Showrooms
- 3,680 SF
- 0.04 lot acres
Current Use by Public Records
- Showrooms
Property Details for 11 Peck St
- Year built
- 1920
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.04 lot acres
- Property size
- 3,680 SF
- Zone code
- D-1-15
- Property type
- Showrooms
- APN
- PROV M:20 L:45
- APU
- PROVM20L45
Description
This exceptional 2,774 square foot commercial property at 11 Peck Street, Providence, RI, presents a unique investment opportunity in a highly desirable downtown location. Situated on a 0.04-acre lot within an Opportunity Zone, this building offers immediate income potential and significant long-term growth prospects. Currently configured with two ground-floor retail spaces and a recently renovated second floor featuring seven modern office suites, the property is incredibly versatile. These seven office spaces can be leased individually as co-working spaces, rented as a single large office, or adapted to suit a variety of other commercial uses. The building's strong foundation is complemented by recently updated heating, electrical systems, roof, and exterior. The existing structure is well-maintained and presents a solid base for future expansion. Furthermore, the property offers significant upside potential
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $375,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $285,000
- 6.5%
- $270,000
- 7%
- $275,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $260,000
- Geo Method
- $245,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $260,000
- Retail
- $305,000
- Mixed-Use
- $250,000
- Hospitality
- $310,000
- Educational
- $295,000
- Residential Income
- $310,000
- Energy
- $290,000
- Income-Based Land
- $300,000
- Food Service
- $295,000
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.41
- Latitude
- 41.8233
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA