RI > Providence > Silver Lake
Providence, RI 02909,562 Plainfield ST
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Providence, RI 02909,562 Plainfield ST
Providence, RI 02909,562 Plainfield ST
Providence, RI 02909,562 Plainfield ST
Providence, RI 02909,562 Plainfield ST
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Jennifer Cosgrove O'Leary

Jennifer Cosgrove O'Leary

Greenwich Bay Brokers

+1(401) 269-6015
$ 449,990
Est. payment /mo
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Active

562 Plainfield ST Providence, RI 02909

2 Beds

1 Bath

2,828 SqFt

UPDATED:

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

© 2025 State-Wide Multiple Listing Service. All rights reserved.
Listed by Smith and Oak Real Estate Co.
agent

Jennifer Cosgrove O'Leary

Broker/Owner | License ID: REB.0019311

+1(401) 269-6015

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562 Plainfield ST