Catylist Listing ID: 30182163
Property Subtypes: Flex Space, Mixed Use, Research & Development, Warehouse/Distribution
Building Size (RSF): 26,390 SF
Gross Land Area: 0.78 Acres
Sale Price: $1,199,000
Unit Price: $45.43 PSF
Ceiling: 20 ft. / 18 ft. Clear
Docks/Doors: 3 Docks, 3 Doors
Office SF: 1,900 SF
Drive In Bays: 2 Bays
Property Use Type: Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/31/2018

Overview / Comments

Well located commercial building with over 27,000 SF of space. Concrete block, three loading bays, warehouse and office space plus an 8,200 SF rental unit.

The property is located in a redevelopment area and bounded by a commercial roadway with highway access to the west, the northeast corridor railway to the south and just minutes to Downtown Providence. Join the Steel Yard, Unicore, Farm Fresh Rhode Island, CAPCO Steel, Monohasset Mills and several new mill conversions.

Current Tenants

Tenant Business Name Meckendil Tool
Is Renting? Yes
Annual Revenue $18,000 (Annual)
Employees Total 2
Employees at Location 2
SF of Space Occupied 8,000 SF
Current Rent $1,500 PSF (Annual)
Escalations Long term tenant with a month to month lease. $1,500/month NNN
Tenant Notes Long term tenant - machine tool shop

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: Providence
Zoning: INDUSTRIAL-COMMERICAL
Highway Access: Route 10 to 95 north and south
Airports: T.F Greene 10 minutes south
Site Description: Urban site borders rail line and paved roadway. In redevelopment area with plans for public/private construction.
Area Description: Promenade-Valley redevelopment district
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1900
Roof Type: Flat
Construction/Siding: Block
Exterior Description: Concreted block, largely slab on grade with 3 loading bays. Flat roof with combination of asphalt and rubber membrane
Parking Type: Surface
Parking Description: On street, small surface lot with room for 6 cars
Total Parking Spaces: 6
Overhead Cranes: 1
Amps: 600
X-Phase: 3
Heat Type: Natural Gas, Suspended Radiant Heaters
Heat Source: Central
Air Conditioning: Other
Lighting: Fluorescent
Internet Access: DSL
Interior Description: 2 floors of finished interior office space, wired for network to server room, with central heat/air. (Finished space appx 5000sf/2500 per floor) Appx 22,000 sf of warehouse space with ceiling heights at 18-20', with concrete floors and gas blower heating/no AC.
Zoning Description: Manufaturing
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Assessor's Plat 27, Lots 96,97,99 Assessor's Plat 28, Lots 751 & 753

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 47,009 257,884 458,855
Median Age: 30.27 33.22 36.27
Households: 18,333 96,002 178,426

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