200 Cross Street , Central Falls, RI 02863
Central Falls, RI 02863
Description
This property is a prime investment opportunity with a strong 10.5% cap rate, ideal for investors seeking high returns. It features six units on a single lot, including five well-maintained residential units with two bedrooms each, updated bathrooms, refinished flooring, and efficient Navien heating systems. All units are rented month-to-month, providing flexibility to adjust rents and maximize returns. Rents include heat and hot water, ensuring high occupancy due to strong demand, particularly given the property's proximity to the Pawtucket/Central Falls Station. A fully operational bar generates over $56K in net income annually and comes equipped with all licenses, inventory, furnishings, and a robust security system. This business has proven income potential with room for growth. The property also offers potential for expansion at the back for additional parking, further enhancing its value. With easy access to downtown, I-95, and major transport links to Providence and Boston, this location drives high rental demand. Some deferred maintenance on the exterior presents a value-add opportunity for investors looking to increase property value. With a DSCR of 1.66 and a 16.68% ROI, this asset promises significant upside. Profit and loss statements are available upon request for serious buyers. Don’t miss this opportunity to acquire a high-performing property with substantial growth potential.
Details
| MLS# | 1366864 |
|---|---|
| Listing Type | For Sale |
| Style | Commercial |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 19 |
| Listing Provided By | Coldwell Banker Realty | Alexander Parmenidez |
Features
| SQ Feet | 5,296 |
|---|---|
| Basement | Y |
| Story(s) | 3 |
| Units | 2 |
| Building(s) | 1 |
| Zoning | M-1 |
| Acreage | 0.11 |
Market Activity 02863
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Learn More About This Property
| State | RI |
|---|---|
| County | Providence |
| City | Central Falls |
| Zip Code | 02863 |
| Area | Providence |
| Community Name | Central Falls Train Station |
| Listing VS Median (in Central Falls Train Station) | |
Price: $750,000 low | high Med: $750,000 SqFt: 5,296 low | high Med: 5,296 $ / SqFt: $142 low | high Med: $142 On Site: 19 low | high Med: 19.000000 | |