Profitable Restaurant and Multi Family

Retail-Commercial for Sale
Catylist Listing ID: 30681213
Property Subtypes: Mixed Use, Restaurant
Building Size (RSF): 3,900 SF
Gross Building Area: See Agent
Gross Land Area: 14,375 SF
Sale Price: $689,000
Unit Price: $176.67 PSF
Property Use Type: Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/14/2021

Overview / Comments

This amazing multi-use property includes a true turn-key, profitable diner and a large, updated, rented two-family home.
The diner seats 72 inside and 20 outside. Completely updated with new A/C, high efficiency gas boiler, hot water tank, new roof and newer kitchen equipment.
The property is located on the well traveled Route 44. The location itself has been an establishment diner since the 1950's; however operates with the newest technology (brand new POS system and I-pads) as well Covid-19 safety and convenience updates like plexi shields and QR menus. Well partnered with GrubHub, Uber Eats and DoorDash.
The Two-Family offers very large, well updated and finished units. 2 bedroom on the first floor, and 4 bedroom on the second. Updated within the last 8 years: electrical, windows, roof, heating, hot water tank.
Connected to gas, public water, sewer.
East Providence makes it easy for reapplication of liquor license; expanded out-door eating, etc.
Business and associated assets included in sale.

Attachments & Media

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: East Providence
Tax ID/APN: EP 306-020-01.00
Zoning: C4
Property Visibility: Excellent
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Good
Year Built: 1950
Year Renovated: 2020
Roof Type: Flat
Construction/Siding: Brick/Aluminum Siding
Total Parking Spaces: 24
Heat Type: Natural Gas
Heat Source: Central
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,189 128,806 392,865
Median Age: 41.24 35.45 35.37
Households: 7,517 50,188 150,216

Contact

Photograph of Listing Agent

Kathleen Berard

The Mello Group, Inc.
ECCPN Member
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