118 Silver Lake Ave - Retail FOR SALE


Providence, RI 02909- Silver Lake
$499,000 USD
401-426-4857
118 Silver Lake Ave, Providence, RI for Sale
$499,000 USD
Retail - FOR SALE
1/5
null | 7.2% Cap Rate

NEW


118 Silver Lake Ave
Providence, RI 02909
Silver Lake


HIGHLIGHTS

  • Updated roof + newer heating system
  • ~7.2% cap rate | DSCR ~1.13 (7%) / ~1.19 (6.5%)
  • Specialty-use building with strong investor appeal
  • Ideal for 1031 exchange buyers, investors, or owner-users

OVERVIEW

Presenting an outstanding opportunity to acquire a commercial building in the heart of Providence. Located at 118 Silver Lake Avenue, this property is currently operating as an automotive repair facility but the sale includes the real estate only, not the business, ensuring clarity for buyers. The building offers 2,628 square feet of space on an 8,276 SF paved lot with 20 parking spaces, providing excellent functionality for automotive operations or other commercial uses. Built in 1925, it has been well maintained with important updates, including an updated roof and newer heating system, which reduce maintenance concerns for the next owner. This property delivers a strong 7.2% cap rate and attractive financing metrics, with a Debt Service Coverage Ratio (DSCR) of 1.13 at 7% interest and improving to 1.19 at 6.5% interest. These numbers exceed typical lending thresholds, making the asset highly bankable and ideal for 1031 exchange buyers as well as regional investors seeking stable, income-producing properties. With limited availability of automotive facilities in the Providence market, this is a rare chance to secure a specialty-use building with strong investment fundamentals, excellent visibility, and long-term growth potential.

FOR SALE DETAILS

PRICE

$499,000 USD

PRICE/SF

$177 USD /SF

CAP RATE

7.2%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Silver Lake Auto Facility – Income-Producing

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,429 SF

ZONING

C2

APN/PARCEL ID

PROV-000110-000000-000409

ASK ABOUT THIS PROPERTY

Alex ParmenidezColdwell Banker RealtyMore Info
401-426-4857

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Alex ParmenidezColdwell Banker RealtyMore Info
401-426-4857

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.