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% |
| 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 |
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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