584 Smithfield Avenue

Retail-Commercial for Sale
Catylist Listing ID: 30739324
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 4,056 SF
Gross Building Area: 6,084 SF
Gross Land Area: 4,997 SF
Sale Price: $449,900
Unit Price: $110.92 PSF
Ceiling: 12 ft.
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: 584 Smithfield Avenue
Usable Size (USF): 4,056 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 10/4/2021

Overview / Comments

Investor or owner occupant opportunity! This property is located at a high traffic and highly visible intersection in a prime location for a great investment! The property consists of 2,028 sf currently leased to a hookah lounge paying $1,600 per month ($19,200 annually). Solid brick building with off street parking for 8 vehicles. Great corner lot location! The 2nd floor consists of 4 one-bedroom apartments currently providing rental revenue of $125 per week per unit (approximately $26,000 annually).
Residential tenants are month to month providing great flexibility to a new owner.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $7,211 (Annual)
Tax Value Land $95,300
Tax Value Improvements $113,900
Assessed Value - Total($) $209,200 (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: City of Pawtucket
Tax ID/APN: PA 490045
Zoning: CG
Retail Clientele: General
Property Visibility: Excellent
Largest Nearby Street: Weeden Street
Highway Access: Yes
Site Description: The property is a Free-Standing Building. This building is placed on a paved corner, and it is made of brick.
Area Description: The property is located near a high traffic and municipal road, along with sidewalks.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,028 SF
Property Condition: Average
Year Built: 1940
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: The exterior of this property consists of brick. The roof structure is flat, and the roof cover consists of tar and gravel. The frame type of this building is masonry.
Total Parking Spaces: 8
Parking Type: Surface
Heat Type: Natural Gas, Hot Water
Heat Source: Baseboard
Air Conditioning: Engineered System
Interior Description: The interior of the 1st floor consists of new laminate flooring. The interior of the 2nd floor consists of carpet, tile and laminate flooring. There are four 1 bedroom, 1 bathroom apartments.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 26,837 182,787 369,318
Median Age: 34.44 36.81 36.15
Households: 9,896 72,668 143,559

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