Long Standing Brick Mixed Use

Multi-Family for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30795004
Property Subtypes: Duplex/Fourplex, Mixed Use
Number of Units: 5 Units
Building Size (RSF): 5,550 SF
Gross Building Area: 7,312 SF
Gross Land Area: 6,534 SF
Sale Price: $900,000
Unit Price: $180,000 Per Unit
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: H. Racine Block
Usable Size (USF): 7,312 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Gross Rent Multiplier: 14.14
Last Updated: 5/18/2022

Overview / Comments

Long Standing, Mixed-Use Building with Iconic restaurant of 32 Years "Georgia's Family Restaurant" on the Ground floor. This brick building boasts 4 residential units on the 2 and 3rd floors. Located on a bus line, close to multiple additional restaurants, business services, retail and laundry mat. Located less than a half mile from the Town of Lincoln

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: Central Falls
Zoning: C-D
Percent Occupied: 100%
Community Amenities: Restaurant(s)
Property Located Between: School St & Valley Street
Highway Access: Rte 146 N/S approx 2 miles away
Airports: T.F. Green, Warwick, RI; Logan Airport, Boston, MA
Site Description: The size of the lot is being advertised as a combination of the Building (Lot 156) located at 913-915 Dexter and the associated rear Parking Lot (Lot 59) with an address of 174 School St. The Rear Parking Lot has approx. 10 Parking Spaces with 4 of those spaces dedicated to the Residential Tenants. The Restaurant is listed for Sale separately and can viewed at MLS# 1298956 or ECCPN 30779570 Seller Financing being offered for the Restaurant.
Area Description: 913-915 Dexter Street is located on a corner lot across from Rhode Island College Development Hub
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 3
Year Built: 1900
Year Renovated: 2010
Roof Type: Flat
Construction/Siding: Brick/Vinyl Siding
Parking Type: Surface
Parking Description: Rear Parking lot is paved/lined and is for the Restaurant and Tenants.
Total Parking Spaces: 14
Laundry: Laundromat Nearby
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Baseboard
Fuel: Gas
Air Conditioning: Package Unit
Internet Access: DSL
Interior Description: Entire Ground Floor is the Restaurant, 2 Residential Units side by side on the 2nd floor and 2 Residential Units located side by side above on the 3rd Flr Easch Residential Unit is Approx. 928 Sq Ft. Two fairly new Central A/C Units for the Restaurant Only
Zoning Description: (C-D) Commercial-Downtown
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: Plat:7 Lot:156 and 59

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 33,677 161,755 327,653
Median Age: 33.61 37.49 36.82
Households: 12,966 64,522 129,148

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