395 Westminster St Providence, RI 02903-3214

This exceptional retail investment opportunity presents a 9,720-square-foot building situated on a highly trafficked corner in Providence, Rhode Island, at 395 Westminster Street. The property, constructed in 1900 and featuring two stories, boasts a diverse tenancy including a restaurant, bar/restaurant, and an escape room occupying the first floor. The second floor offers 4,860 square feet of vacant space, presenting a significant value-add opportunity for expansion or redevelopment. The building sits on a 0.12-acre lot and benefits from central air conditioning and natural gas heating. Currently operating under a triple-net (NNN) lease, the property offers a pro-forma cap rate of 11.96% and a pro-forma net operating income (NOI) of $233,280. The asking price is $1,950,000, translating to $200.62 per square foot. The property is zoned D-1-120 + Downtown Overlay District and is located within an Opportunity Zone, offering considerable upside potential. Its prime location is steps from the Providence Performing Arts Center (PPAC), the Dunkin' Donuts Center, and historic Federal Hill, providing easy access to world-class dining, shopping, and amenities. The building's current occupancy is 50%, with leases commencing January 1, 2000. The property includes one building with four units. While the tenants currently lack credit ratings, the strong location and potential for redevelopment make this a compelling investment.