North Main St NN Restaurant Investment

Retail-Commercial for Sale
Catylist Listing ID: 30515977
Property Subtypes: Free-Standing Building, Restaurant
Building Status: Proposed
Building Size (RSF): 10,000 SF
Gross Land Area: 12,632 SF
Sale Price: $1,190,000
Unit Price: $119 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 10,000 SF
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 4/1/2020

Overview / Comments

NN leased restaurant with rent bumps, in yr 4 of 10 yr lease.
Current Rent $107,000, escalating to $150,703
taxes paid by LL - $33,000 2019
maintenance is tenants responsibility
completely remodeled in 2012

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Tax ID/APN: PR 075-0194
Zoning: COMMERCIAL
Retail Clientele: General, Business
Property Located Between: cor of Caroline St
Property Visibility: Excellent
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 15
Typical SF / Floor: 7,500 SF
Property Condition: Excellent
Year Renovated: 2012
Roof Type: Flat
Construction/Siding: Block, Brick
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Air Curtain
Lot Frontage: 120
Lot Depth: 95
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,126 255,513 432,324
Median Age: 35.94 34.28 35.75
Households: 9,553 98,798 165,945

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