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257 Allens Ave 21,862 SF 100% Leased Retail Building Providence, RI 02905 $3,950,000 ($180.68/SF) 14.50% Cap Rate
Executive Summary
Fully occupied, Well established Adult Entertainment Complex. Three tenants, with 2 to 4 year current leases and multiple options
at high renewal rates. Exceptional current cash flow (14.5% cap rate) and Long term investment return. Property is a well maintained
21,800+SF brick building on .8 Acre site, with extensive available parking. Central Providence location with immediate access to
Interstate Routes I-95, I-295, and I-195 provides continuous and extensive range of clientele.
at high renewal rates. Exceptional current cash flow (14.5% cap rate) and Long term investment return. Property is a well maintained
21,800+SF brick building on .8 Acre site, with extensive available parking. Central Providence location with immediate access to
Interstate Routes I-95, I-295, and I-195 provides continuous and extensive range of clientele.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bar
Building Size
21,862 SF
Building Class
C
Year Built/Renovated
1920/1990
Price
$3,950,000
Price Per SF
$180.68
Cap Rate
14.50%
NOI
$572,750
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.63
Lot Size
0.80 AC
Opportunity Zone
Yes
Zoning
M2 - M2- Very Rare Multi Adult Entertainment Venue
Parking
70 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Freeway Visibility
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | PROV-470820-000000-000000 | Improvements Assessment | $1,078,700 (2025) |
| Land Assessment | $1,381,900 (2025) | Total Assessment | $2,460,600 (2025) |
Property Taxes
Parcel Number
PROV-470820-000000-000000
Land Assessment
$1,381,900 (2025)
Improvements Assessment
$1,078,700 (2025)
Total Assessment
$2,460,600 (2025)
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257 Allens Ave
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