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    Investment properties

    489 Elmwood Ave, Providence, RI 02907-1791

    3,953 SF 0.11 ac lot Built 1900
    Individually Owned 21-yr Hold Absentee Owner
    Property ID
    US76-0006576
    Property summary
    AI-generated overview

    Exceptional opportunity to acquire a 4,804 sq ft commercial lot at 489 Elmwood Avenue in Providence, RI, 02907. Built in 1900, this property features one building and is zoned for retail use. The asking price is $70,000. Included in the sale are existing fixtures such as racks and display units, essential equipment (fax, phone, register, camera system), and inventory at the time of purchase. A designated parking space in a secure gated area is also provided. Optional dumpster access is available for a fee. Supplier information and a side office are included. Currently operating as a clothing store with a diverse inventory (men's, women's, children's apparel and travel merchandise), this versatile property offers numerous business possibilities. A three-year lease is required post-purchase to ensure a smooth transition. This presents a unique chance to own a well-established business in a vibrant, historic neighborhood. The property's central location and existing infrastructure make it an ideal investment for a variety of commercial ventures. This is a rare opportunity to acquire a turnkey business with significant potential for growth and profitability in a desirable Providence location.

    Property profile
    Verified
    Property type Investment properties
    Use group OFFICE/RESIDENTIAL (MIXED USE)
    Year built 1900
    Construction FRAME
    Total area 3,953 SF
    Lot 0.11 ac (4,804 SF)
    Zoning code C-1
    APN PROV M:49 L:389
    UPID US76-0006576
    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
    • A to Z Wholesale Perfumes Big Box & Wholesale Store
    • CrispHeli Photography Service (Bike/Boat/Book/etc) Store
    • Bombillo Max.com (Bombillos Recargables) (Rechargeable Light Bulbs) Big Box & Wholesale Store Building Supply
    • Elmwood Fashion & Services Clothing Store
    • Ria Money Transfer - Elmwood Fashion & Services Inc Bank Credit Union
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Pedro Tejada · 21 yrs held
    Pedro Tejada
    since 2004
    4 recorded transactions
    2004
    2000
    1996
    1994
    Zoning & alternative use
    C-1 · Providence, RI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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