Retail & Office Space - Blackstone River Bike Path

Retail-Commercial for Sale
Catylist Listing ID: 30347428
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 4,094 SF
Gross Land Area: 10,802 SF
Sale Price: $549,000
Unit Price: $134.10 PSF
Property Use Type: Business
Usable Size (USF): 4,094 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/13/2018

Overview / Comments

Corner of High & Broad Streets. Two buildings and electronic message board with "Off-Premise" advertising approved. Total renovations in 2004 with separate gas & electric utilities in four units. High traffic on RI state road minutes from Rt 95. Both buildings were rebuilt from the walls out including all new heating, central A/C, and electric services. Fire protection systems are in place.

Current Tenants

Tenant Business Name Restoration Church
Contact Name Luis Hiciano
Contact Title Pastor
Industry Type Other Services
Is Renting? Yes
SF of Space Occupied 2,400 SF
Current Rent $6 PSF (Annual)
Tenant Notes Tenant pays heat, electricity, water and sewer. Rents entire corner building #1359 Broad Street
Tenant Business Name Carmen's Secret Place
Contact Name Carmen
Contact Title Shop Owner
Industry Type Retail Trade
SF of Space Occupied 800 SF
Current Rent $11 PSF (Annual)
Tenant Notes Jewelry & clothing store
Tenant Business Name MGM Realty Corporation
Contact Name Frank Moreau
Contact Title Property Owner
Phone Number 401-996-4379
Industry Type Real Estate and Rental and Leasing
Employees at Location 1
Year Founded 2004
SF of Space Occupied 800 SF
Current Rent $12 PSF (Annual)
Tenant Notes MGM Realty Corporation is an ongoing real estate business with four active Realtor agents. Willing to continue renting office space if agreeable with new owner.

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: City of Central Falls
Retail Clientele: General, Business
Property Located Between: Blackstone River Bridge nearby Cumberland Town Hall
Property Visibility: Excellent
Largest Nearby Street: Broad Street
Traffic/Vehicle Count: 75,000
Highway Access: Minutes to Rt 95 & Rt 295
Airports: PVD
Site Description: Lot size is 10,000 sq ft + with paved parking for 15+ cars. Situated on Blackstone River on CF /Cumberland town line. High traffic, corner lot.
Area Description: Bike path passes by property with Blackstone Valley tourism riverboat tour across street.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 1,150 SF
Property Condition: Excellent
Year Built: 1900
Year Renovated: 2004
Construction/Siding: Brick
Exterior Description: 1359 Broad Street has stucco exterior finish. 1361 Broad Street is brick finish.
Total Parking Spaces: 15
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Evaporative Cooler
Internet Access: Cable
Interior Description: Modern finish in both buildings. Four total rental units with bathroom in all units. Includes handicap baths and one has a shower.
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal
Easements Description: None
Land Ownership: Owned

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 33,374 141,013 297,241
Median Age: 33.36 37.5 37.52
Households: 12,368 55,645 117,520


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