1086 Smith StProvidence, RI 02908

Property Details for 1086 Smith St

Year built

1942

Construction

FRAME

Lot size

0.16 AC

Property size (Sq ft)

1,625 SF

Zone code

R-1

Property type

Other commercial real estate

Property subtype

Showrooms

APN

PROV M:83 L:264

APU

PROVM83L264

Description

This exceptional mixed-use property, situated at 1086 Smith Street in Providence, Rhode Island, presents a compelling investment opportunity. The 6,970 square foot lot features a 1942-built building currently configured as a partially-utilized office space and a residential apartment. The main level offers potential for five private offices, a conference area, a spacious reception area, a kitchen/break room, and 1.5 bathrooms. Hardwood floors and modern upgrades enhance the professional aesthetic. The second level comprises a one-bedroom apartment with a private entrance, offering additional office space potential or rental income. The property boasts central AC/heat, ample off-street parking for six or more vehicles, and a meticulously maintained exterior. All utilities are separately metered. This high-visibility location on Smith Street in a desirable Elmhurst area enjoys high traffic volume. The property is conveniently located within ten minutes of area universities and major hospitals. Prospective buyers are responsible for conducting their own due diligence regarding zoning and usage requirements. This property is offered at $499,000.

• CAP approach

  CAP return

  Valuation

  6%

  $394,932

  6.5%

  $364,552

  7%

  $338,513

• Comparable approach

  Method

  Valuation

  Relative Method

  $535,053

  Geo Method

  $535,053

• Alternative Use

  Use

  Valuation

  Residential

  $307,514

  Hospitality

  $281,681

  Educational

  $234,355

  Medical

  $242,415

  Retail

  $364,552

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.8437

Longitude

-71.4482

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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