198 Cross Street Central Falls, RI $ 849,900
198 Cross Street
$ 849,900
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198 Cross Street

Central Falls, RI, 02863
$ 849,900
Baths0.0 Sq 5,293

Monthly Estimate*

$ 5,937

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Studio

Commercial Property for sale in Central Falls, RI

for $849,900. This 5,293 square foot building was built in 1900 on a lot size of 0.114784.

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.

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Commercial Active

Price

$ 849,900

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 5,216

Style

Commercial

Lot Size

0.114784

Year Built

1900

Town/City

Central Falls

County/Region

Providence

MLS | Web ID

1351332

Features
General
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
Business Type BarTavernLounge Mixed
Community Features HighwayAccess NearHospital NearSchools PublicTransportation RecreationArea Restaurant Shopping HighTrafficLocation StreetLights Sidewalks
County Providence
Insurance Expense 5979.0
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Subdivision Name Central Falls Train Station
Possible Use MultiFamily MixedUse
Garage Y/N N
Status Active
City Central Falls
View Y/N N
Senior Community Y/N N
Total Units 2
Lot Size Square Feet 5000.0
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 6
Street Name Cross
Property Attached Y/N Y
Land Lease Y/N N
Tax Annual Amount 5216.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
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
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Interior
Basement Full
Furnished Y/N Unfurnished
Total Stories 3
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 5293.0
Street Suffix Street
Electric On Property Y/N N
Total Baths 0
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Exterior
Water Source Connected Public
Total Parking 0.0
Lot Size Area 5000.0
Foundation Details Stone
Number of Buildings 1
Spa N
Building Area Total 5293.0
Road Surface Type Asphalt Concrete Paved
Frontage Length 50
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 198
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* Excluded Features
List By
Coldwell Banker Realty

Broker

myhome@alexparmenidez.realtor

Email

Affordability Calculator

$6,371
Per Month
93%
7%
0%
Monthly Principal & Interest
$5,937
Monthly Property Taxes
$435
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
248553 Elementary School
248554 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
2/12/2024$849,900 -5.57% Price Down
1/24/2024$900,000 Listed Price

Map


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198 Cross Street, Central Falls, RI, 02863 is a Commercial Property for sale at $849,900 with 5,293 sqft and a lot size of 0.114784. 198 Cross Street is a studio with 0.0 baths and was built in 1900. The property's zip code is 02863 which is in Central Falls, RI