51-55 Union St - Apartments FOR SALE


Providence, RI 02903- Downtown Providence
$450,000 USD
401-359-8799
51-55 Union St, Providence, RI for Sale
$450,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

51-55 Union St
Providence, RI 02903
Downtown Providence


HIGHLIGHTS

  • Prime downtown Providence location within walking distance to Providence Place Mall and City Hall.
  • Flexible interior layout suitable for various uses, including bar, restaurant, café, or professional office.
  • High pedestrian and vehicular traffic, enhancing visibility and accessibility for customers and clients.

OVERVIEW

2 commercial condos available in Downtown Providence at 51 & 55 Union Street for sale or lease. An exceptional opportunity to own a commercial condo in the heart of downtown Providence, perfectly suited for a bar, lounge, nightclub, or entertainment venue. This property benefits from strong foot traffic, nearby restaurants and nightlife, and close proximity to offices, residential developments, and major thoroughfares. The space offers a flexible, open layout ideal for a dance floor, stage, or customizable seating arrangement. The unit is nearly turnkey and requires only minor repairs and cosmetic updates to be fully operational. Property Highlights: * Prime downtown Providence location * Commercial condo ownership opportunity Ideal for bar, club, or entertainment concept * Open floor plan with adaptable layout * High-visibility area with consistent foot traffic * Minimal improvements needed Whether you are launching a new concept or investing in a high-demand entertainment corridor, this property presents a rare chance to own in downtown Providence’s thriving commercial market. Contact us today for more details or to schedule a private showing. Also available with Lease to Own Option. Sale of property includes the following fees: water/sewer cost; monthly building insurance cost; Condo Fee - commercial space units each pay 15% of the total 60% of the condo fees. Lease option is also available. Five (5) Year Triple Net Lease: $3,500 Triple Net Lease per month for 2 Years; Increasing to $4,500 Triple Net per month for the next 3 Years. CPI Increases following the fifth year. Tenant may exercise the Option to Purchase at any time during the lease period 51 Union Street Providence RI 02803 Sale Price $575,000 55 Union Street Providence RI 02903 Sale Price $475,000

FOR SALE DETAILS

PRICE

$450,000 USD

PRICE/SF

$16 USD /SF

# OF UNITS

20

PRICE/UNIT

$22,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

National Building / The Strand Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,677 SF

ZONING

D-1-12

APN/PARCEL ID

PROV-250152-000000-C000001,PROV-250154-000000-C000003,PROV-250155-000000-C000004,PROV-250156-000000-R000201

ASK ABOUT THIS PROPERTY

Wendy DelarosaInnovations RealtyMore Info
401-359-8799

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Wendy DelarosaInnovations RealtyMore Info
401-359-8799

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