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29599752
29599773

374 Wickenden St, Providence, RI 02903

JB
RI RES.0041517
William Raveis Real Estate
Listed by William Raveis Real Estate
$1,650,000
120 days on market
Updated 109 days ago

374 Wickenden St, Providence, RI 02903

Details
Property Type Land, Retail (+1)
Sub Type Residential, Storefront (+2)
Square Footage 5,735
Net Rentable (SqFt) 4,525
Units 3
Cap Rate 6.09%
NOI $100,456
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $288
Class A
Year Built 1900
Year Renovated 2015
Buildings 1
Stories 4
Lot Size (SqFt) 2,779
Zoning C2
Investment Type Stabilized
Tenant Credit No Credit Rating

Land | 2,779 SqFt

Marketing description

Mixed-Use Building in a prime location with fully rented residential units until May 31, 2027, and a long-standing and popular pizza place on the first floor on a NNN lease. Fully renovated to the studs within the last ten years or so by the previous owner. This property has had virtually no vacancy during the current ownership. The residential units are comprised of a 3-bed / 1-bath unit on the second floor, and a 4-bed / 2-bath townhouse on the third and fourth floors. Each unit offers central air, in-unit laundry, and modern kitchens and bathrooms. The restaurant tenant pays for a third of the owner's expenses and has an annual 2% rent increase. No parking on site. The easy access to Downtown Providence, interstates, and the short distances to Brown University and RISD campuses make this building an attractive rental location and keep the restaurant business thriving. Solid investment with virtually no vacancy rate and very low maintenance cost.
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Listing Contacts

JB
RI RES.0041517
William Raveis Real Estate
Listed by William Raveis Real Estate

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$100,456.00
$8,371.33/mo

Valuation Metrics

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DSCR
6.09%
Cap Rate
6.09%
ROI

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Additional Information

Name
Jeremiah C. Blum
License
RES.0041517
Brokerage
eXp Realty LLC
Title
Real Estate Sales Associate
Brokerage Address
10 Dorrance Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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