548 Willett AveEast Providence, RI 02915

Property Details for 548 Willett Ave

Year built

1960

Construction

CONCRETE

Lot size

0.48 AC

Property size (Sq ft)

1,822 SF

Zone code

R3

Property type

Other commercial real estate

Property subtype

Showrooms

APN

EPRO M:512 B:04 L:006 U:

APU

EPROM512B04L006U

Description

This exceptional retail property, located at 548 Willett Ave in East Providence, Rhode Island, presents a unique owner-user investment opportunity. The 1,822 square foot building, currently operating as a successful convenience and grocery store, sits on a spacious 20,834 square foot lot. Built in 1960 and recently updated two years ago, the property boasts ample parking, a significant advantage in a high-traffic area. The building is zoned R3, offering flexibility for potential future uses. The asking price is $599,900, translating to $329.25 per square foot. This represents a strong value proposition in the competitive East Providence market. The property's history as a thriving convenience store demonstrates its proven ability to generate revenue. Its convenient location and substantial parking make it an attractive option for both established businesses and new ventures. The property's recent updates ensure it's ready for immediate occupancy and continued success. Serious inquiries are encouraged to schedule a viewing and explore this promising investment opportunity. The property is situated in Providence County, Rhode Island, with a zip code of 02915.

• CAP approach

  CAP return

  Valuation

  6%

  $442,810

  6.5%

  $408,747

  7%

  $379,551

• Comparable approach

  Method

  Valuation

  Relative Method

  $599,918

  Geo Method

  $599,918

• Alternative Use

  Use

  Valuation

  Residential

  $344,794

  Hospitality

  $315,829

  Educational

  $262,766

  Medical

  $271,803

  Retail

  $408,747

Location Insight

City

Riverside

County

Providence

State

Rhode Island

Latitude

41.7712

Longitude

-71.3498

CBSA code

39300

CBSA name

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

Property Tax & Assessments

FAQs

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