489 Elmwood Ave, Providence, RI 02907-1791
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.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
C-1 · Providence, RIProvidence. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.