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1358 Smith St 6,524 SF 66% Leased Office Building North Providence, RI 02911 $949,000 ($145.46/SF)
Investment Highlights
- Stunning Victorian that's been meticulously updated and maintained
- ADU potential
- Adaptive Reuse
Executive Summary
For the first time in over 40 years, this impeccably maintained, spectacular mixed-use property is available for purchase. Built at the turn of the 20th century, this exquisite Queen Anne-style Victorian was, from 1985-2020, used as a medical office on the ground level, with several thoughtful, architectural additions added to the front and side. Today, the first floor is ideal for a large office/commercial space; or adaptive reuse allows for up to two smaller office/commercial spaces, or for several residential apartments. Upstairs, find two beautifully maintained residential units: the bright and sunny 2nd-floor apartment has an updated kitchen and bathroom, 2 spacious bedrooms, and ductless cooling; and the 3rd floor is a lovely and bright 1-bed, 1.5-bath apartment with 3 skylights and a spectacular view of the City of Providence. The parking lot provides 21 off-street spaces and includes a heated cement ramp; and the handsome 2-story carriage house can potentially be redeveloped as an ADU. Smart exterior updates, including a younger roof, Hardie Board siding, blown-in insulation, and many replacement windows (covered with storm windows) make for a more energy-efficient, low-maintenance package. Smith Street is a main corridor with access to highways, a bus route, and amenities, and is approximately 3 miles to the commuter rail and Downtown Providence and just over 1 mile to two nearby colleges.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Office
Property Subtype
Medical
Building Size
6,524 SF
Building Class
C
Year Built/Renovated
1900/1990
Price
$949,000
Price Per SF
$145.46
Percent Leased
66%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
2,175 SF
Building FAR
0.44
Lot Size
0.34 AC
Zoning
CP - Zoned CP. The first-floor has been used as a medical office but adaptive reuse allows for up to 2 commercial spaces or multiple residential units.
Parking
8 Spaces (1.23 Spaces per 1,000 SF Leased)
Amenities
- Reception
- Storage Space
- Air Conditioning
- Smoke Detector
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | NPRO-000008-000000-000343 | Improvements Assessment | $413,600 |
| Land Assessment | $123,600 | Total Assessment | $537,200 |
Property Taxes
Parcel Number
NPRO-000008-000000-000343
Land Assessment
$123,600
Improvements Assessment
$413,600
Total Assessment
$537,200
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1358 Smith St
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