Description
Mixed-Use Building in a prime location with fully rented residential units until May 31, 2027, and a long-standing and popular pizza place on the first floor on a NNN lease. Fully renovated to the studs within the last ten years or so by the previous owner. This property has had virtually no vacancy during the current ownership. The residential units are comprised of a 3-bed / 1-bath unit on the second floor, and a 4-bed / 2-bath townhouse on the third and fourth floors. Each unit offers central air, in-unit laundry, and modern kitchens and bathrooms. The restaurant tenant pays for a third of the owner's expenses and has an annual 2% rent increase. No parking on site. The easy access to Downtown Providence, interstates, and the short distances to Brown University and RISD campuses make this building an attractive rental location and keep the restaurant business thriving. Solid investment with virtually no vacancy rate and very low maintenance cost.
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7BEDS
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0.06ACRES
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3BATHS
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01/2 BATHS
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5,735SQFT
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$288$/SQFT
School Ratings & Info
Description
Mixed-Use Building in a prime location with fully rented residential units until May 31, 2027, and a long-standing and popular pizza place on the first floor on a NNN lease. Fully renovated to the studs within the last ten years or so by the previous owner. This property has had virtually no vacancy during the current ownership. The residential units are comprised of a 3-bed / 1-bath unit on the second floor, and a 4-bed / 2-bath townhouse on the third and fourth floors. Each unit offers central air, in-unit laundry, and modern kitchens and bathrooms. The restaurant tenant pays for a third of the owner's expenses and has an annual 2% rent increase. No parking on site. The easy access to Downtown Providence, interstates, and the short distances to Brown University and RISD campuses make this building an attractive rental location and keep the restaurant business thriving. Solid investment with virtually no vacancy rate and very low maintenance cost.
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