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640-648 Elmwood Ave 3,274 SF 100% Leased Retail Building Providence, RI 02907 $885,250 CAD ($270.39 CAD/SF)
Executive Summary
Excellent investment opportunity located in the heart of historic Elmwood on a well traveled commercial corridor with outstanding visibility and exposure. This meticulously maintained 3,500 square foot four unit commercial property is fully occupied with established commercial business storefronts, offering strong and stable rental income. A rare opportunity to own a turnkey asset in a high traffic location, the property has been extensively renovated and rebuilt and was owner occupied for more than four decades, reflecting exceptional pride of ownership throughout. The property features numerous upgrades, and quality finishes, making it equally attractive for investors or future owner users. With potential for future mixed-use 2nd and 3rd floor residential development opportunities, this versatile commercial building combines long term stability, functionality, and upside in one of the area’s most sought after commercial settings.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$115,700
|
$26.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$115,700
|
$26.30
|
| Taxes |
$23,261
|
$5.29
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$23,261
|
$5.29
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $115,700 |
| Annual Per SF | $26.30 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $115,700 |
| Annual Per SF | $26.30 |
| Taxes (CAD) | |
|---|---|
| Annual | $23,261 |
| Annual Per SF | $5.29 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $23,261 |
| Annual Per SF | $5.29 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,274 SF
Building Class
C
Year Built
1920
Price
$885,250 CAD
Price Per SF
$270.39 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.47
Lot Size
0.16 AC
Opportunity Zone
Yes
Zoning
C2
Parking
6 Spaces (1.83 Spaces per 1,000 SF Leased)
Frontage
92’ on Elmwood Ave
Amenities
- Bus Line
- Signage
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | PROV-520108-000000-000000 | Total Assessment | $796,587 CAD |
| Land Assessment | $226,185 CAD | Annual Taxes | $23,261 CAD ($7.10 CAD/SF) |
| Improvements Assessment | $570,403 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
PROV-520108-000000-000000
Land Assessment
$226,185 CAD
Improvements Assessment
$570,403 CAD
Total Assessment
$796,587 CAD
Annual Taxes
$23,261 CAD ($7.10 CAD/SF)
Tax Year
2025
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640-648 Elmwood Ave
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