Address
198 Cross Street, Central Falls, RI
Price
$ 849,900
Property Attributes
- MLS#1351332
- TypeCommercial
- CountyPROVIDENCE
- CityCentral Falls
- NeighborhoodCentral Falls Train Station
- Zip02863
- StyleCommercial
- Year Built1900
- Taxes$ 5216
- Price$ 849,900
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage5293
- Lot Size5,000 SqFt
Data Source:
Rhode Island Statewide MLS (RIAR)
Property Description
A STONE AWAY FROM BOSTON!! ATTENTION ALL ENTREPRENEURS AND INVESTORS. Nestled in the city's heart lies a remarkable investment treasure: SIX UNITS on a single lot. Each of these five residential spaces radiates meticulous care, featuring two ample bedrooms adorned with fresh paint, refinished flooring, a cutting-edge Navient heating system, and modern bathrooms. Every unit is thoughtfully equipped with its distinct circuit breaker, seamlessly blending individuality and convenience. A newer, fully coded fire alarm system ensures the safety of all inhabitants, pointing to a promising cap rate of 8.5%. Further enhancing this property's allure is the FULLY OPERATIONAL BAR. This ready-to-use establishment boasts essential licenses, an extensive inventory, posh furniture, a television, and a robust security system. For visionaries dreaming of a thriving restaurant, bar, or lounge venture, this place is rife with promise. Essential equipment and furniture stand at the ready. Location is paramount, and this property doesn't disappoint. Proximity to downtown, effortless access to I-95, and closeness to the Pawtucket/Central Falls Station mark it as an investment hotspot. Moreover, critical destinations like Providence and Boston are within comfortable reach. In essence, this mixed-use edifice is a rare blend of residential elegance and commercial opportunity, inviting discerning investors to harness its immense potential.
| Price History | |
|---|---|
| 1/24/2024 | Listed $900,000 |
| 2/12/2024 | 6% - $849,900 |
General Features
| Sewer | Connected,PublicSewer |
|---|---|
| Heating | ForcedAir,Gas,HotWater |
| Utilities | CableAvailable,ElectricityAvailable,NaturalGasAvailable,NaturalGasConnected,SewerConnected |
| Possession | Negotiable |
| Zoning | M-1 |
| Security Features | SecuritySystemOwned,FireAlarm,SmokeDetectors,BuildingSecurity,SecurityService |
| Construction Materials | Frame |
| Year Built | 1900 |
| Tenant Pays | CableTV,Electricity |
| Stories | 3 |
| Levels | ThreeOrMore |
| Property SubType | Commercial |
| Tax Year | 2022 |
| OwnerPays | Heat,HotWater,Insurance,PestControl,Repairs,RoofMaintenance,SnowRemoval,Sewer,Taxes,TrashCollection,Water |
| Business Type | BarTavernLounge,Mixed |
| Community Features | HighwayAccess,NearHospital,NearSchools,PublicTransportation,RecreationArea,Restaurant,Shopping,HighTrafficLocation,StreetLights,Sidewalks |
| County | Providence |
| Insurance Expense | 5979.0 |
| New Construction | No |
| Property Type | CommercialSale |
| HOA / Comm Assn | No |
| Attached Garage | No |
| Subdivision Name | Central Falls Train Station |
| Possible Use | MultiFamily,MixedUse |
| Garage Y/N | No |
| Status | Active |
| City | Central Falls |
| View Y/N | No |
| Senior Community Y/N | No |
| Total Units | 2 |
| Lot Size Square Feet | 5000.0 |
| Waterfront Y/N | No |
| Carport Y/N | No |
| Number of Units Leased | 6 |
| Street Name | Cross |
| Property Attached Y/N | Yes |
| Land Lease Y/N | No |
| Tax Annual Amount | 5216.0 |
| Home Warranty Y/N | No |
| Lease Renewal Y/N | No |
| Additional Parcels Y/N | No |
| Lease Considered Y/N | No |
| Rent Control Y/N | No |
| Virtual Tour | https://alexparmenidez.realtor/198-cross/ |
| Days on Market | 115 |
| Standard Status | Active |
| Occupancy Type | Owner |
| Tax Assessed Value | 261500 |
| Tax Lot | 310 |
| Ownership Type | SoleProprietor |
| Cap Rate | 9.6 |
| MobileHomeRemainsYN | No |
Interior Features
| Basement | Full |
|---|---|
| Furnished Y/N | Unfurnished |
| Total Stories | 3 |
| Basement (Y/N) | Yes |
| Air Conditioning Y/N | No |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Above Grade Finished Area | 5293.0 |
| Street Suffix | Street |
| Electric On Property Y/N | No |
Exterior Features
| Water Source | Connected,Public |
|---|---|
| Total Parking | 0.0 |
| Lot Size Area | 5000.0 |
| Foundation Details | Stone |
| Number of Buildings | 1 |
| Spa | No |
| Building Area Total | 5293.0 |
| Road Surface Type | Asphalt,Concrete,Paved |
| Frontage Length | 50 |
| Lot Size Units | SquareFeet |
| Crops Included Y/N | No |
| Open Parking Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 02863
Price
Taxes
Visits
Year Built
Massachusetts MLS Property Info Network (MLSPIN) - The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and
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. Information is deemed reliable but is not guaranteed. © 2024 State-Wide Multiple Listing Service. All rights reserved.
