292 Prairie Avenue Parcels 16000sf

Industrial for Sale
Catylist Listing ID: 30638936
Property Subtypes: Free-Standing, Warehouse/Distribution, Other
Building Size (RSF): 3,000 SF
Gross Land Area: 16,000 - 16,015 SF
Sale Price: $695,000
Unit Price: $231.67 PSF
Docks/Doors: 2 Doors
Drive In Bays: 2 Bays
Property Use Type: Net Leased Investment (NNN), Investment, Business
Building Name: 292 Prairie Avenue
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/13/2020

Overview / Comments

This Parcel consists of 4 lots. 292 Prairie is an Industrial/Warehouse that has been occupied by owners for over 35 years, running Construction Companies. The adjoining additional vacant lots , 294 Prairie Ave, 22 Milk Street and 28 Milk Street, are zoned Commercial and the neighborhood is a mix of Residential and Commercial Properties. Walking distance to RI, Women and Infants, and Hasbro Hospitals, CCRI, Lifespan Community Health Institute, multiple Medical buildings, Walgreens. 12 minute walk or under 5 minute drive to Downtown Providence, Brown Medical School, Jewelry District, Knowledge District, Fox Point and Marina. Easy Highway access to Rt 195 and Rt 95. Excellent opportunity for Multi family development, Medical Office or Clinic development, Retail, and the list goes on. Can be purchased with 2 Additional adjacent lots adding 8000 plus sf for a total of 24000 plus sft. Plus, a 1 level So close to downtown without the downtown prices. Buyer to Exercise Due Diligence.

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: City of Providence
Tax ID/APN: PR 045-0444
Property Located Between: Eddy St, Point St, Thurbers Ave
Highway Access: Easy Highway access to Interstate 195 and Interstate 95
Airports: TF Green Airport 20 minute drive
Site Description: Package consists of 4 Com Lots totaling approx 16000 plus sf. 1 Lot with Warehouse currently housing owner occupied Construction Company since 1992 and 3 vacant connecting lots currently used for parking. Option to purchase 2 additional connecting vacant lots for a total of 24000 sf
Area Description: This is located in the Hospital District and a 12 minute walk to Downtown Providence.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1950
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Heat Type: Natural Gas
Air Conditioning: Window Unit
Lighting: LED, Fluorescent
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 40,781 243,082 429,290
Median Age: 29.56 33.08 36.8
Households: 13,947 89,777 166,443


Photograph of Listing Agent

Ellen O'Donnell-Forte

Lila Delman Real Estate ECCPN Member
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