562 Plainfield ST Active Save Request In-Person Tour Request Virtual Tour
Providence,RI 02909
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,828 sqft
Price per Sqft $159
Subdivision Silver Lake
MLS Listing ID 1387578
Bedrooms 2
Full Baths 1
HOA Y/N No
Abv Grd Liv Area 2,828
Year Built 1920
Annual Tax Amount $6,363
Tax Year 2025
Lot Size 3,598 Sqft
Acres 0.0826
Property Sub-Type Commercial
Property Description
Investor Opportunity Mixed-Use with 3rd unit ADU Potential // Proforma Cap Rate: 8.2% Set on a 3,600 sq ft lot in a high-traffic area of Providence, this freestanding brick mixed-use building offers strong upside potential. The 2,828 sq ft layout includes a spacious 1,303 sq ft retail space on the first floor and a 750 sq ft residential unit above featuring 2 bedrooms perfect for a business and rental income. The detached garage is an easy ADU conversion adding a third unit pushing PROFORMA rents to $5.2K+ p/ month. Whether you're looking to create a third income stream or a private guest space, the groundwork is here. The building has a solid existing infrastructure, R3 zoning, and a location minutes from downtown and commuter routes, this property offers flexibility for investors, entrepreneurs, and end users alike. Run your business downstairs, rent or live upstairs, and explore the untapped value in the garage. Why rent a storefront, when you can own it, and collect rent from your tenants upstairs!
Location
State RI
County Providence
Community Silver Lake
Zoning R-3
Rooms
Basement Exterior Entry,Interior Entry,Partial,Unfinished
Interior
Interior Features Tub Shower
Heating Oil,Space Heater
Cooling Attic Fan,Wall Unit(s)
Flooring Ceramic Tile,Laminate
Fireplaces Type None
Inclusions Existing tenant lives upstairs and owns the mattress store in the commercial unit. Total rent is $2,000.
Fireplace No
Appliance Exhaust Fan,Electric Water Heater,Refrigerator
Exterior
Parking Features Detached
Garage Spaces 2.0
Community Features Highway Access,Near Hospital,Near Schools,Public Transportation,Recreation Area,Restaurant,Shopping,Sidewalks,Street Lights
Utilities Available Natural Gas Connected,Sewer Connected
Street Surface Concrete
Total Parking Spaces 5
Garage Yes
Building
Foundation Concrete Perimeter,Stone
Sewer Connected,Public Sewer
Water Connected,Public
Structure Type Drywall,Masonry,Brick,Vinyl Siding
New Construction No
Others
Senior Community No
Tax ID 562PLAINFIELDSTPROV