Architect · Providence, RI · Member since 2016 · 257 posts · 195 votes
I'm looking to purchase a commercial property in the Providence RI metro area (Providence, Pawtucket, East Providence. Maybe Cranston/Warwick, but prefer closer). This is to house my office and rent a unit or two as well. Ideally between 2000 and 5000 SF, but would be interested in larger or smaller if the right property presented itself. I'm an architect, so need a "cool" space for my office. There are interesting historic properties in the area, but not much for sale. Looking here to see if there's anything out there that I can't find on Loopnet, etc. I'm not scared of renovation, but need a property that lends itself well to being 2+ units. Needs parking or excellent street parking.
PS: a mutifamily that was commercially zoned might also work.
Wholesaler · Lincoln, RI · Member since 2016 · 9 posts · 5 votes
9y
David, I have a commercial property in Johnston, just outside of Providence, that may be a good fit for you. There are 2 residential units in it that are occupied and whose rental income more than covers your PITI. This way you'll essentially have your work space for free. Please contact me if you'd like more info and I can provide you with the details to the upgrades I have already made, and am continuing to make, to the property. Thanks!
A few months ago the RI statewide MLS went onto a new system (Matrix) and separated out its pure commercial (no residential) listings into the RI CIE so I'd guess you might be able to find some smaller properties on there which might fit your needs.
Though I'd also say if you know a real estate agent you could have them check the regular MLS too because it seems like not everyone's gotten the memo that commercial-only properties go into CIE and not MLS; just last week I saw a property like that in the regular MLS.
And of course, if you're open to mixed use, then you may have more options and you should definitely be checking the regular MLS (which as a non-agent you can do via RILiving.com).
Wholesaler · Lincoln, RI · Member since 2016 · 9 posts · 5 votes
9y
David, I have a commercial property in Johnston, just outside of Providence, that may be a good fit for you. There are 2 residential units in it that are occupied and whose rental income more than covers your PITI. This way you'll essentially have your work space for free. Please contact me if you'd like more info and I can provide you with the details to the upgrades I have already made, and am continuing to make, to the property. Thanks!
Architect · Providence, RI · Member since 2016 · 257 posts · 195 votes
9y
Anthony - thanks for the tip I didn't know about RI CIE. Jason, please PM me the info on the property in Johnston? It's probably too far, but I'll take a look. David, Newport is definitely too far, but thank you.