

Listed by William Raveis Real Estate
$1,650,000
374 Wickenden St, Providence, RI 02903
Details
Property Type Land, Retail
Sub Type Residential, Storefront
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.
Listing Contacts


Listed by William Raveis Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$100,456.00
$8,371.33/mo
Valuation Metrics
0
DSCR
6.09%
Cap Rate
6.09%
ROI
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