735 Allens Ave
78,000 SF Office Building Providence, RI 02905 $5,999,000 ($76.91/SF) 7.91% Cap Rate
INVESTMENT HIGHLIGHTS
- 3.09 Acres in Opportunity Zone
- 2 miles to central business district and downtown Providence
- Located near the Concussions Care at Lifespan Physical Medicine and Rehabilitation.
- Potential Mixed-use, free standing building
- Abundant on-site parking
EXECUTIVE SUMMARY
Built in 1940 with a renovation in 1964 this property consists of 6 total buildings and sits on 3.09 Acres in an Opportunity Zone. M1 Zoning provides potential for mixed-use property; main building is 84,897 sq ft, Warehouse 1 is 3,570 sq ft, Warehouse 2 is 7,560 sq ft, Maintenance Building is 4,514 sq ft, Training Building is 1,550 sq ft and the on site garage is 1,820 sq ft. This property has frontage on Allens Avenue, Virginia Avenue, Chapman Avenue and Toronto Avenue.
Possible uses: school, redevelopment, office/medical.
Possible uses: school, redevelopment, office/medical.
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
78,000 SF
Building Class
C
Year Built
1980
Price
$5,999,000
Price Per SF
$76.91
Cap Rate
7.91%
NOI
$474,435
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
26,000 SF
Slab To Slab
12’
Building FAR
0.58
Lot Size
3.09 AC
Opportunity Zone
Yes
Zoning
M1 - Located In an Opportunity Zone
Parking
90 Spaces (1.15 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Bus Line
- Property Manager on Site
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | PROV-001010-000519-000000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,114,700 |
