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31 South Main Street

Burrillville, RI 02859
  • $699,999
  • STATUS: Active
  • ON SITE: 22 Days
  • MLS #: 1334909
Price Reduced
UPDATED: 72 min ago
$699,999
  • 0
    BEDS
  • 0.69
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1850
County:
Area:

School Ratings & Info

Description

Non commercial(residential) financing available! 5 Residential units, 3 garages, parking lot, on a waterfront lot on Union Pond. Natural gas available at the street. Property is stabilized, fully rented at a 7%+ CAP rate with moderate rents. The community has waiting lists for residential rentals. The stand alone studio apartment was previously a barber shop/hair salon and can be converted back. Sale will include the metal sign holder for the front of the stand along building in front. Current income does not include 1 garage space that is owner occupied. With reasonable rent increases, property could easily be an 8% or 9% CAP rate at asking price. Sale includes TWO lots. The parking lot, #31 South Main St, is a separate deeded lot. This would make an excellent investment/1031 exchange.

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[Rhode Island Statewide MLS] logo

© 2023 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Onshore Realtors are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Onshore Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2023-05-28T17:37:38.84.
www.onshorerealtors.com/homes/139249651
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31 South Main Street Burrillville, RI 02859

  • Price: $699,999
  • Status: Active
  • On Site: 22 Days
  • Updated: 72 min ago
  • MLS #: 1334909
0
Beds
0
Baths
0
½ Baths
0.69
Acres
1850
Built
County:
Providence
Area:
Burrillville
Property Description
Non commercial(residential) financing available! 5 Residential units, 3 garages, parking lot, on a waterfront lot on Union Pond. Natural gas available at the street. Property is stabilized, fully rented at a 7%+ CAP rate with moderate rents. The community has waiting lists for residential rentals. The stand alone studio apartment was previously a barber shop/hair salon and can be converted back. Sale will include the metal sign holder for the front of the stand along building in front. Current income does not include 1 garage space that is owner occupied. With reasonable rent increases, property could easily be an 8% or 9% CAP rate at asking price. Sale includes TWO lots. The parking lot, #31 South Main St, is a separate deeded lot. This would make an excellent investment/1031 exchange.
Exterior Features

Construction Materials Frame Parking Total 14

Interior Features

Basement Partial Basement YN Yes

Property Features

Business Type Barber/Beauty Electric 100 Amp Service Gross Income 78300 Land Lease YN No Operating Expense 25312 Owner Pays HeatHot WaterSewerTaxesWater Possible Use Residential Property Sub Type Commercial Road Surface Type Asphalt Sewer Connected Structure Type Apartment Tax Annual Amount 6348 Tax Assessed Value 456400 Tax Lot 18/19 Tax Year 2022 Tenant Pays Cable TvElectricity Utilities Cable AvailableFiber Optic AvailableNatural Gas AvailableSewer Connected

[Rhode Island Statewide MLS] logo Listing information © 2023 State-Wide Multiple Listing Service.
Listing provided courtesy of Skyview Realty: [IDXCONTACTINFORMATION].



[Rhode Island Statewide MLS] logo

© 2023 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Onshore Realtors are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Onshore Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2023-05-28T17:37:38.84.
 
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Onshore Realtors
57 Shore Rd, Suite B
Westerly RI, 02891