156-160 Westminster StProvidence, RI 02903

This exceptional five-story, 15,744-square-foot Class B office building at 156-160 Westminster Street in Providence, Rhode Island, presents a unique investment opportunity. Built in 1890 and extensively renovated in 2008 (including a new elevator, sprinkler system, mechanicals, and roof), the property boasts a strong anchor tenant, Washington Trust Bank, occupying the ground floor. The upper floors (2-4) are currently configured as office space but offer significant potential for conversion into residential units. Detailed architectural plans for 10 residential units (five per floor on the 3rd and 4th floors) are available, with the possibility of expanding to 15 units by including the second floor. The building features 15 total units and enjoys a desirable location in Providence's Financial District, surrounded by numerous amenities, restaurants, and parking. Its proximity to the AMTRAK/MBTA Providence Station adds further appeal. The property offers a 2.36% cap rate and a net operating income (NOI) of $51,695.18, with an asking price of $2,195,000. The permitted zoning is DD. This property is an ideal investment for those seeking a blend of stable income and significant upside potential through residential conversion.