29 Elmwood Ave Elmwood AveProvidence, RI 02907

Property Details for 29 Elmwood Ave Elmwood Ave

Year built

1960

Property type

Other commercial real estate

Property subtype

Other retail properties

Description

This exceptional commercial property at 29 Elmwood Avenue in Providence, Rhode Island, presents a lucrative investment opportunity. The property consists of a single building on a 5,781 square foot lot, built in 1960. Currently leased to a strong tenant with a remaining lease term of four years, plus two five-year renewal options featuring annual rent increases, this investment offers significant stability and predictable income. The property boasts a compelling cap rate exceeding 8%. While the total square footage of the combined properties (including 612 Hartford Street) is 12,895 square feet (9,500 sq ft at 29 Elmwood Ave and 3,395 sq ft at 612 Hartford St), this listing specifically pertains to the land and building at 29 Elmwood Avenue. Detailed lease information is available upon request. This property is categorized as land and retail, representing a rare chance to acquire a well-situated commercial asset in a thriving Rhode Island market. The property's location in Providence, zip code 02907, offers excellent visibility and accessibility. This is a freehold offering, with the sale encompassing the land and the existing building. The property is zoned for commercial use. Serious inquiries only.

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.8119

Longitude

-71.4229

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