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Hotel Providence 139 Mathewson St 80 Room Hotel Providence, RI 02903 For Sale
Investment Highlights
- Historic, architecturally rich property dating back to 1882
- Walking distance to the Providence Performing Arts Center, the Amica Mutual Pavillion, and the Rhode Island Convention Center
- Property amenities include 5,498 SF of indoor meeting/event space, additional outdoor event areas in the 1st FL courtyard and 2nd FL terrace
- Privileged location just off Westminster Street, Providence’s most vibrant pedestrian corridor
- Proximate to the city’s strongest institutional demand generators including Johnson & Wales University, Brown University, and Providence College
- Situated in a high-barrier-to-entry market with no new supply under construction
Executive Summary
Hunter Advisors has been exclusively engaged to present the opportunity to acquire the fee-simple interest in the 80-room, 7-story Hotel Providence (the “Hotel”), located at 139 Mathewson Street. Situated in the center of Downtown Providence’s Arts & Theatre District, the Hotel offers exceptional walkability to the city’s leading demand drivers including the Rhode Island Convention Center, cultural attractions, major academic institutions, and leading medical facilities. The property has a storied past dating back to 1882 and was transformed and restored into a hotel in 2005. The independent boutique Hotel presents a new owner with tremendous upside potential through numerous value-add initiatives.
Property Facts
| Sale Type | Investment | No. Rooms | 80 |
| Property Type | Hospitality | No. Stories | 7 |
| Property Subtype | Hotel | Year Built/Renovated | 1882/2017 |
| Building Class | B | Tenancy | Single |
| Lot Size | 0.39 AC | Corridor | Interior |
| Building Size | 60,169 SF | Opportunity Zone |
Yes
|
| Zoning | D-1-12 - Hotel | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.39 AC |
| Building Size | 60,169 SF |
| No. Rooms | 80 |
| No. Stories | 7 |
| Year Built/Renovated | 1882/2017 |
| Tenancy | Single |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | D-1-12 - Hotel |
Amenities
- Business Center
- Fitness Center
- Restaurant
- Room Service
- High Speed Internet Access
- On-Site Bar
- Boutique/Lifestyle Hotel
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 16 | $396.00 | - |
| Guest Room | 64 | $268.00 | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | PROV-250457-000000-000000 | Improvements Assessment | $5,870,600 |
| Land Assessment | $2,187,000 | Total Assessment | $8,057,600 |
Property Taxes
Parcel Number
PROV-250457-000000-000000
Land Assessment
$2,187,000
Improvements Assessment
$5,870,600
Total Assessment
$8,057,600
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Hotel Providence | 139 Mathewson St
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