Catylist ID:
#30402036
Atwood Avenue Portfolio Redevelopment or Investment
Retail-Commercial
for Sale
| Catylist Listing ID: | 30402036 |
| Property Subtypes: | Free-Standing Building, Restaurant, Street Retail |
| Building Size (RSF): | 30,766 SF |
| Gross Land Area: | 81,437 SF |
| Sale Price: | $2,399,000 |
| Unit Price: | $77.98 PSF |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Building Name: | Atwood Avenue Portfolio |
| Usable Size (USF): | 30,766 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/27/2021 |
Overview / Comments
|
Redevelopment parcel on Atwood Avenue. Purchase buildings and land for $2.4M or lease entire parcel (81,437sf) at $3.50psf NNN for redevelopment. Two lots consisting of just under 2 acres of land improved by two buildings totaling 30,766sf. The single level structure was constructed with the capability of adding an entirely new 2nd level offering the possibility of increasing the leasable square footage by almost 8000sf. Current gross annual income of $280,000. NOI is $207,000. NOTE: BUILDINGS ONLY FOR SALE. SALE DOES NOT INCLUDE BUSINESSES. Well located on Atwood Avenue offering over 400' of frontage. Traffic count of over 23,000 vehicles daily. Highlights: •AMAZING VISIBILTY •TOTAL REDEVELOPMENT POTENTIAL •HIGH TRAFFIC COUNT (23,000 + VEHICLES PER DAY) •LOTS OF PARKING •MINUTES to RT'S 6 & 295 |
Attachments & Media
Financials
| Finance Data Year | 2018 |
|---|---|
| Real Estate Taxes - Annual($) | $57,946 (Annual) |
| Tax Value Land | $353,600 |
| Tax Value Improvements | $1,489,800 |
| Assessed Value - Total($) | $1,843,400 (Annual) |
| Gross Operating Income | $252,000 (Annual) |
| Actual or Proforma Year | Actual |
Additional Details
| Nearest MSA: | Providence-Warwick |
| County: | Providence |
| Taxing Authority: | City of Cranston |
| Tax ID/APN: | 12/1/3165 & 12/4/3127 |
| Zoning: | C1 |
| Retail Clientele: | General, Family, Business, Recreation |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Plainfield Street |
| Traffic/Vehicle Count: | 23,000 |
| Tenancy: | Multiple Tenants |
| Total Number of Buildings: | 2 |
| Number of Stories: | 2 |
| Property Condition: | Good |
| Year Built: | 1987 |
| Year Renovated: | 2010 |
| Roof Type: | Flat |
| Construction/Siding: | Concrete |
| Parking Type: | Surface |
| Heat Type: | Natural Gas |
| Air Conditioning: | Engineered System |
| Lot Frontage: | 325' |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 15,574 | 164,282 | 353,989 |
| Median Age: | 42.4 | 35.7 | 36.05 |
| Households: | 6,885 | 61,729 | 133,918 |
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