"PRICE REDUCED" Authentic Classic Italian Restaurant

Retail-Commercial for Sale
Catylist Listing ID: 30730210
Property Subtypes: Free-Standing Building, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 4,127 SF
Gross Building Area: 4,727 SF
Gross Land Area: 0.15 Acres
Sale Price: $599,000
Unit Price: $145.14 PSF
Property Use Type: Business
Usable Size (USF): 4,127 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/18/2022

Overview / Comments

Landmark authentic Italian restaurant, family owned and operated for over 40 years. Pre-pandemic, this successful family restaurant provided delicious dining for all types of events including family functions, repasts, catering, and much much more. The formal dining area on the main level has seating capacity for 90. Full kitchen on the main level was completely updated with all new equipment in 2015. There is also a full service bar for main level diners. All new ADA bathrooms and private office round out the main dining area. Additional seating for 80 patrons in the lower level, featuring an additional full kitchen, full bar, bathroom, coatroom and storage space.
The building is in overall excellent condition with new roof and many other improvements. Building, furniture, all fixtures, equipment, parking lots, and transfer of 1am liquor license included in the purchase.


Finance Data Year 2020
Real Estate Taxes - Annual($) $12,889 (Annual)
Tax Value Land $50,800
Tax Value Improvements $300,400
Assessed Value - Total($) $351,200 (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: City of Providence
Tax ID/APN: PR 109-0151
Retail Clientele: General, Family, Business, Recreation
Property Visibility: Good
Largest Nearby Street: Pocasset Avenue
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1939
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Block
Total Parking Spaces: 22
Parking Type: Surface
Parking Description: Paved off street.
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 34,124 226,446 406,976
Median Age: 30.29 33.48 36.25
Households: 11,325 82,523 155,905


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