Address
236 Atwells Avenue, Providence, RI
Price
$ 2,195,000
Property Attributes
- MLS#1354048
- TypeCommercial
- CountyPROVIDENCE
- CityProvidence
- NeighborhoodFederal Hill
- Zip02903
- StyleCommercial
- Year Built1905
- Taxes$ 72376
- Price$ 2,195,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage8598
- Lot Size0.39 Acres
Data Source:
Rhode Island Statewide MLS (RIAR)
Property Description
Rare opportunity to own a bundle of prime real estate in the heart of historic Federal Hill, Providence. The sale includes 2 abutting freestanding properties, 236 Atwells Avenue (currently Cap't Loui Seafood Restaurant) and 240-242 Atwells Avenue (currently VL Restaurant & Lounge). In addition to the two commercial units the property also includes two residential units above 240-242 Atwells Avenue. Lastly the property has an oversized parking lot in the rear with 25+ parking spaces and rear egress. This is a very well maintained property with excellent investment income and future expansion potential. Contact agent for further details.
| Price History | |
|---|---|
| 3/6/2024 | Listed $2,195,000 |
General Features
| Sewer | Connected,PublicSewer,Sanitary,StormSewer |
|---|---|
| Heating | ForcedAir,Gas,Individual,Zoned |
| Cooling | CentralAir |
| Utilities | CableAvailable,ElectricityAvailable,FiberOpticAvailable,NaturalGasAvailable,NaturalGasConnected,MunicipalUtilities,PhoneAvailable,SewerConnected,WaterConnected |
| Possession | Immediately,Negotiable,RentalAgreement |
| Development Status | Subdivided |
| Zoning | C2 & R3 |
| Security Features | CarbonMonoxideDetectors,FireAlarm,SmokeDetectors,SecurityLights |
| Construction Materials | Frame,Masonry |
| Year Built | 1905 |
| Electric | CircuitBreakers |
| Tenant Pays | AirConditioning,CableTV,Electricity,Gas,HVACMaintenance,Heat,HotWater,Insurance,JanitorialService,ParkingFee,SnowRemoval,Sewer,Taxes,TrashCollection,Telephone |
| Stories | 2 |
| Levels | Two |
| Property SubType | Commercial |
| Tax Year | 2023 |
| Gross Income | 284588.0 |
| Business Type | Bakery,BarTavernLounge,DeliCatering,FoodBeverage,IceCreamFrozenYogurt,Mixed,Parking,Pizza,RealEstate,Restaurant,Retail |
| Community Features | HighwayAccess,NearHospital,NearSchools,Other,PublicTransportation,RecreationArea,Restaurant,Shopping,SeeRemarks,HighTrafficLocation,StreetLights,Sidewalks |
| County | Providence |
| Net Operating Income | 169997.0 |
| Insurance Expense | 19196.0 |
| New Construction | No |
| Property Type | CommercialSale |
| HOA / Comm Assn | No |
| Attached Garage | No |
| MaintenanceExpense | 7913.0 |
| Subdivision Name | Federal Hill |
| Possible Use | Commercial,Development,Investment,MixedUse,Other,Residential,Retail,SeeRemarks |
| Garage Y/N | No |
| Building Features | PublicRestrooms |
| Status | Active |
| City | Providence |
| Buyer Agent Compensation | 2% |
| View Y/N | No |
| Senior Community Y/N | No |
| Total Units | 4 |
| Lot Size Square Feet | 17180.0 |
| Waterfront Y/N | No |
| Carport Y/N | No |
| Number of Units Leased | 4 |
| Street Name | Atwells |
| Property Attached Y/N | Yes |
| Land Lease Y/N | No |
| Tax Annual Amount | 72376.0 |
| Electric Expense | 1613.0 |
| Home Warranty Y/N | No |
| Trash Expense | 1260.0 |
| Water Sewer Expense | 8132.0 |
| Lease Renewal Y/N | No |
| Additional Parcels Y/N | No |
| Lease Considered Y/N | No |
| Rent Control Y/N | No |
| Virtual Tour | https://tour.RiLiving.com/236-240-Atwells-AV-Providence-RI-02903 |
| Days on Market | 10 |
| Structure Type | Apartment |
| Lease Type | EscalationClause,NNN |
| Standard Status | Active |
| Occupancy Description | Tenant |
| Tax Assessed Value | 2062000 |
| Tax Lot | 644&1048 |
| Cap Rate | 7.7 |
| MobileHomeRemainsYN | No |
Interior Features
| Basement | Partial |
|---|---|
| Total Stories | 2 |
| Basement (Y/N) | Yes |
| Air Conditioning Y/N | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Above Grade Finished Area | 8598.0 |
| Street Suffix | Avenue |
| Laundry Features | CommonArea,LaundryRoom |
| Electric On Property Y/N | No |
Exterior Features
| Fencing | Fenced |
|---|---|
| Water Source | Connected,Public |
| Total Parking | 25.0 |
| Lot Size Area | 17180.0 |
| Foundation Details | Combination |
| Number of Buildings | 2 |
| Spa | No |
| Building Area Total | 8598.0 |
| Lot Size Acres | 0.39 |
| Road Surface Type | Concrete,Paved |
| Frontage Length | 72 |
| Lot Size Units | SquareFeet |
| Road Frontage Type | CityStreet |
| Crops Included Y/N | No |
| Open Parking Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 02903
Price
Taxes
Visits
Year Built
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