417 Smithfield Ave
Providence, RI 02904
Retail Property For Sale

Marcus & Millichap is pleased to exclusively present for sale the Laundromax at 417
Smithfield Avenue in Providence, RI. The property consists of a 4,202 SF building and
adjacent parking lot on a little over half an acre. This is a sale-leaseback opportunity with an
established operator who has more than 30 years of experience in the laundromat business
and more than 90 laundromat locations currently in operation. Upon closing, the tenant
will sign a 20-year absolute net lease, which includes 2% annual escalations and (2) 10-year
tenant options.
The building sits on a well-positioned retail parcel in a densely populated neighborhood
corridor, benefiting from excellent visibility, multiple access points, and strong traffic counts.
Surrounded by multifamily housing, workforce communities, and neighborhood retail, the
property serves a large daily population that relies on high-capacity laundry services. There
are more than 400,000 residents within a five-mile radius of the site, creating a durable and
recurring customer base that supports consistent tenant performance.
This offering provides investors with the security of a long-term lease, stable cash flow
backed by an established operator, and ownership of a recently upgraded retail asset in the
most populous city in the state. The combination of essential-services tenancy, favorable real
estate fundamentals, and long-term passive income positions this property as an attractive
opportunity for both private and institutional net-lease investors.