Jamestown Building For Sale

53 Narragansett Ave

Property Description

Rare opportunity to purchase a mixed-use property in the village of Jamestown, RI. The Bakers Pharmacy building features first floor commercial space, office suites and residential units on the second floor, and additional residential units on the third floor. The building is fully occupied with the exception of the first-floor retail space. Potential for additional residential units. Ideal for income generation, or condo conversion. Don’t miss out on this unique opportunity!

Property Details

Address: 53 Narragansett Ave, Jamestown, Rhode Island

Buillding Size: 10,845 SqFt Via Vision Appraisal

Lot Size: 16,100 SqFt

Sale Price: $1,750,000

Bedrooms: 8

Bathrooms: 7 Full, 2 Half Baths

Sewer: Public Connected

Water: Public Connected

Sprinkler System: Yes- wet on 1st floor- dry on 2nd & 3rd

Assessment: $1,553,800

Taxes: $12,508.09: 2019 Tax Rate

Plat: 9

Lot: 207

Year Built: 1986

Number of Units: 8

Unit Descriptions:

First Floor:

Retail Space, 3,800 SqFt, prior use Bakers Pharmacy

Second Floor:

SW Apartment: 750 SqFt, 2 Bedroom/ 2 Bathroom
SE Apartment: 600 SqFt, 1 Bedroom/ 1 Bathroom
NE Office: 800 SqFt, Three Room Office Suite
NW Front Office: 350 SqFt, Single Office
NW Middle Office: 500 SqFt, 3 Office Suite with

Third Floor:

South Apartment: 1,200 SqFt, 2 Bedroom/ 2 Bathroom
North Apartment: 1,200 SqFt, 3 Bedroom/ 2 Bathroom, features a covered deck and water views

Affordable Housing:

Jamestown Zoning calls that for any property with more than four residential units, 20% of the units must be affordable. The 2018 State designated values are:

Sale- 2 bedroom- $200,000. 1 bedroom- $179,000

Rental- 2 bedroom- $1,014 per month. 1 bedroom- $850 per month