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Property profile & analytics
OFF-MARKET Estimated value $555,000
Showrooms

1086 Smith St Providence, RI 02908-2738

1,625 SF 0.16 ac lot Built 1942
Entity Owned 7-yr Hold ~ Est. High Equity
Property ID
US76-0173387
Property summary
AI-generated overview

This exceptional mixed-use property, situated at 1086 Smith Street in Providence, Rhode Island, presents a compelling investment opportunity. The 6,970 square foot lot features a 1942-built building currently configured as a partially-utilized office space and a residential apartment. The main level offers potential for five private offices, a conference area, a spacious reception area, a kitchen/break room, and 1.5 bathrooms. Hardwood floors and modern upgrades enhance the professional aesthetic. The second level comprises a one-bedroom apartment with a private entrance, offering additional office space potential or rental income. The property boasts central AC/heat, ample off-street parking for six or more vehicles, and a meticulously maintained exterior. All utilities are separately metered. This high-visibility location on Smith Street in a desirable Elmhurst area enjoys high traffic volume. The property is conveniently located within ten minutes of area universities and major hospitals. Prospective buyers are responsible for conducting their own due diligence regarding zoning and usage requirements. This property is offered at $499,000.

Property profile
Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1942
Construction FRAME
Total area 1,625 SF
Lot 0.16 ac (6,878 SF)
Zoning code R-1
APN PROV M:83 L:264
UPID US76-0173387
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Golfo K. Tzilos, PhD Physician Medical Clinic
  • Jeanne K. Esler, PhD Physician Medical Clinic
  • David Lyon H. Lyon, PsyD Medical Clinic
  • David Lyon Lyon Medical Clinic Physician
  • Dawn Nero Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$535k
CAP Approach CAP
$355k
Comparable Approach Comparable
by Request
Blend (final) Blend
$555k
Owner & transaction history
79 Summer Street LLC · 7 yrs held
79 Summer Street LLC
since 2019
Last sale
$565,000
2 recorded transactions
2019
$355,000
2009
$317,500
Zoning & alternative use
R-1 · Providence, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $350,000 +49.7%
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