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540-544 Douglas Ave 7,936 SF 100% Leased Office Building Providence, RI 02908 $749,900 ($94.49/SF)

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Investment Highlights

Updated Fire System
Development Opportunity

Minutes From Providence College

Executive Summary

Exceptional development opportunity on Douglas Ave with significant income potential, consisting of two buildings in a prime Providence location, just steps from Providence College. This property is currently used as professional offices, previously used as apartments. Best use of the property would be a residential apartment conversion, consisting of 7-9 units. The zoning is C2 and offers excellent flexibility for other uses, such as condo conversion or mixed use. Rents in the area are very strong, making a return to residences here a lucrative possibility. Both buildings have updated fire systems, including sprinkler system and fire alarm panels. On-site paved lot for approximately 12 vehicles adds significant value as parking in the area is difficult to find. Located near downtown Providence, I-95, and Smith Hill amenities, this property offers strong long-term potential in a high-demand corridor.