Atwood Avenue Portfolio

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: 4/7/2019

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 $240,000.
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

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $57,946 (Annual)
Tax Value Land $353,600
Tax Value Improvements $1,330,400
Gross Operating Income $240,000 (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: M1
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

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,574 165,828 353,989
Median Age: 42.4 35.64 36.05
Households: 6,885 62,276 133,918

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