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National Building / The Strand Building 51-55 Union St 20 Unit Apartment Building $450,000 ($22,500/Unit) Providence, RI 02903
Investment Highlights
- Prime downtown Providence location within walking distance to Providence Place Mall and City Hall.
- High pedestrian and vehicular traffic, enhancing visibility and accessibility for customers and clients.
- Flexible interior layout suitable for various uses, including bar, restaurant, café, or professional office.
Executive Summary
2 commercial condos available in Downtown Providence at 51 & 55 Union Street for sale or lease.
An exceptional opportunity to own a commercial condo in the heart of downtown Providence, perfectly suited for a bar, lounge, nightclub, or entertainment venue. This property benefits from strong foot traffic, nearby restaurants and nightlife, and close proximity to offices, residential developments, and major thoroughfares. The space offers a flexible, open layout ideal for a dance floor, stage, or customizable seating arrangement. The unit is nearly turnkey and requires only minor repairs and cosmetic updates to be fully operational. Property Highlights: * Prime downtown Providence location * Commercial condo ownership opportunity Ideal for bar, club, or entertainment concept * Open floor plan with adaptable layout * High-visibility area with consistent foot traffic * Minimal improvements needed Whether you are launching a new concept or investing in a high-demand entertainment corridor, this property presents a rare chance to own in downtown Providence’s thriving commercial market. Contact us today for more details or to schedule a private showing. Also available with Lease to Own Option. Sale of property includes the following fees: water/sewer cost; monthly building insurance cost; Condo Fee - commercial space units each pay 15% of the total 60% of the condo fees.
Lease option is also available. Five (5) Year Triple Net Lease: $3,500 Triple Net Lease per month for 2 Years; Increasing to $4,500 Triple Net per month for the next 3 Years. CPI Increases following the fifth year. Tenant may exercise the Option to Purchase at any time during the lease period
51 Union Street Providence RI 02803 Sale Price $575,000
55 Union Street Providence RI 02903 Sale Price $475,000
An exceptional opportunity to own a commercial condo in the heart of downtown Providence, perfectly suited for a bar, lounge, nightclub, or entertainment venue. This property benefits from strong foot traffic, nearby restaurants and nightlife, and close proximity to offices, residential developments, and major thoroughfares. The space offers a flexible, open layout ideal for a dance floor, stage, or customizable seating arrangement. The unit is nearly turnkey and requires only minor repairs and cosmetic updates to be fully operational. Property Highlights: * Prime downtown Providence location * Commercial condo ownership opportunity Ideal for bar, club, or entertainment concept * Open floor plan with adaptable layout * High-visibility area with consistent foot traffic * Minimal improvements needed Whether you are launching a new concept or investing in a high-demand entertainment corridor, this property presents a rare chance to own in downtown Providence’s thriving commercial market. Contact us today for more details or to schedule a private showing. Also available with Lease to Own Option. Sale of property includes the following fees: water/sewer cost; monthly building insurance cost; Condo Fee - commercial space units each pay 15% of the total 60% of the condo fees.
Lease option is also available. Five (5) Year Triple Net Lease: $3,500 Triple Net Lease per month for 2 Years; Increasing to $4,500 Triple Net per month for the next 3 Years. CPI Increases following the fifth year. Tenant may exercise the Option to Purchase at any time during the lease period
51 Union Street Providence RI 02803 Sale Price $575,000
55 Union Street Providence RI 02903 Sale Price $475,000
Property Facts
| Price | $450,000 | Building Class | C |
| Price Per Unit | $22,500 | Lot Size | 0.54 AC |
| Sale Type | Investment | Building Size | 28,755 SF |
| Sale Condition | Lease Option | No. Stories | 3 |
| No. Units | 20 | Year Built | 1915 |
| Property Type | Multifamily | Parking Ratio | 1.87/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | D-1-12 | ||
| Price | $450,000 |
| Price Per Unit | $22,500 |
| Sale Type | Investment |
| Sale Condition | Lease Option |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.54 AC |
| Building Size | 28,755 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Parking Ratio | 1.87/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | D-1-12 |
Amenities
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 1,000 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,599,900 | |
| Land Assessment | $0 | Total Assessment | $2,599,900 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$2,599,900
Total Assessment
$2,599,900
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Contact the Sale Advisor
National Building / The Strand Building | 51-55 Union St