Discover this rare investment opportunity at 735 Allens Avenue, offering a full city block in Providence. This high-impact property enjoys frontage on Allens, Virginia, Chapman, and Toronto Avenues, with the potential for a significant subdivision into multiple lots, delivering added flexibility to developers.
Situated on 3.09 acres, these versatile properties were originally the home to Armbrust International (established 1929), reflecting over a century of craftsmanship in Providence, once America’s Jewelry Capital. The property was constructed in 1947 and remodeled in 1968, blending classic design with upgraded infrastructure and expanded capacity.
Totaling more than 100,000 square feet, the well-maintained buildings feature major updates, including heating, HVAC, and the roof. With flexible layouts, proven construction, and thoughtful improvements, the property provides both character and long-term investment strength. Potential uses include apartments, life sciences, manufacturing, industrial, office/medical, education, or mixed-use redevelopment.
The superior location off Allens Avenue provides robust daily visibility to more than 15,000 vehicles, delivering added strength to all manner of commercial developments. Additionally, the property’s proximity to major highways, including Interstates 95 and 195, ensures seamless regional connectivity to the site. Situated within a designated Opportunity Zone, investors may qualify for substantial tax benefits, including deferred and reduced capital gains taxes and potential full exclusion on appreciation after 10 years.