686 Broadway East Providence, RI 02914
- Investment properties
- 4,217 SF
- 0.23 lot acres
Current Use by Public Records
- Dragon Super Laundromat / Laundry
Property Details for 686 Broadway
- Year built
- 1920
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.23 lot acres
- Property size
- 4,217 SF
- Zone code
- R6
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- EPRO M:305 B:16 L:002 U:
- APU
- EPROM305B16L002U
Description
This exceptional mixed-use investment opportunity in East Providence, Rhode Island, presents a compelling blend of commercial and residential income streams. Located at 686 N Broadway, this property boasts a substantial 10,000 square foot lot and a single building constructed in 1920. The property comprises two units: a thriving laundromat business, currently equipped with 31 washers and 23 dryers, and generating significant revenue; and six additional rental units providing consistent rental income from long-term tenants. The laundromat presents substantial growth potential, capitalizing on its established presence and high-traffic location. The combined commercial and residential income streams offer a robust return on investment. This turnkey operation is ideally suited for an investor seeking a stable, high-yield property in a desirable location close to numerous amenities. The property's size and established income make it an attractive proposition for both seasoned investors and those seeking a diversified portfolio. This is a rare opportunity to acquire a well-established, income-producing property in a prime East Providence location. The property is situated in Providence County, Rhode Island, with a zip code of 02914.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $355,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $365,000
- 6.5%
- $400,000
- 7%
- $340,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $305,000
- Geo Method
- $345,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $280,000
- Retail
- $380,000
- Mixed-Use
- $295,000
- Hospitality
- $300,000
- Educational
- $305,000
- Residential Income
- $335,000
- Energy
- $365,000
- Income-Based Land
- $340,000
- Food Service
- $365,000
Location Insight
- Map
- Local Demand
- City
- East Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.3663
- Latitude
- 41.8234
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
