$1,571,441
$1,795,000
12.5%For more information regarding the value of a property, please contact us for a free consultation.
160,000 SqFt
SOLD DATE : 11/08/2024
Key Details
Sold Price $1,571,441
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 160,000 sqft
Price per Sqft $9
Subdivision East School
MLS Listing ID 1295129
Sold Date 11/08/24
Maintenance Fees $39,550
HOA Y/N No
Abv Grd Liv Area 160,000
Year Built 1904
Annual Tax Amount $21,708
Tax Year 2020
Lot Size 5.360 Acres
Acres 5.36
Property Description
This is a portfolio sale comprising of two properties containing four buildings on approx. six acres. 105,000 SF of space is presently occupied and the projected N.O.I of 229K is based on the entire property being rented. This also factors in a 10% vacancy rate. There have been substantial improvements made over the last five years and while more work remains to be completed, there will be a substantial upside to the cash flow upon completion. This property also features, lots of parking, front loading docks, high ceilings, open floor space and storage. It's located near the highway and provides for easy access from routes 146, I495 & I295. It's located in the Industrial zone, which is not only ideal for ecommerce but may be the ideal setting for the future Marijuana grow market. Please note that some numbers being reported are projected based on full occupancy.
Location
State RI
County Providence
Community East School
Zoning I1
Rooms
Basement None
Exterior
Community Features Street Lights
Utilities Available Cable Available, Electricity Available, Fiber Optic Available, Natural Gas Connected, Municipal Utilities, Phone Available, Water Connected, Sewer Connected
Street Surface Asphalt,Paved
Total Parking Spaces 100
Building
Story 3
Sewer Connected
Water Connected, Public
Level or Stories 3
Structure Type Masonry
New Construction No
Others
Tax ID 308292EASTSCHOOLSTWOON
Security Features Fire Sprinkler System
Financing Cash
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