562 Plainfield Street
Providence, RI 02909
Map
- 2 beds
- 1 bath
- 2,828 sqft
- 3,600 sqft lot
- $159 per sqft
- 1920 build
Investor Opportunity Mixed-Use with 3rd unit ADU Potential // Proforma Cap Rate: 8.2% Set on a 3,600 sq ft lot in a high-traffic area of Providence, this freestanding brick mixed-use building offers strong upside potential. The 2,828 sq ft layout includes a spacious 1,303 sq ft retail space on the first floor and a 750 sq ft residential unit above featuring 2 bedrooms perfect for a business and rental income. The detached garage is an easy ADU conversion adding a third unit pushing PROFORMA rents to $5.2K+ p/ month. Whether you're looking to create a third income stream or a private guest space, the groundwork is here. The building has a solid existing infrastructure, R3 zoning, and a location minutes from downtown and commuter routes, this property offers flexibility for investors, entrepreneurs, and end users alike. Run your business downstairs, rent or live upstairs, and explore the untapped value in the garage. Why rent a storefront, when you can own it, and collect rent from your tenants upstairs!
Last checked:
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Last updated Jun 17, 2025
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MLS# 1387578 —
The Building
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Year Built:1920
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New Construction:false
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Building Area Total:2828.0
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Construction Materials:Drywall,Masonry,Brick,VinylSiding
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Structure Type:Apartment
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Foundation Details:ConcretePerimeter,Stone
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Stories Total:2
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Basement:ExteriorEntry,InteriorEntry,Partial,Unfinished
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Basement:true
Interior
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Interior Features:TubShower
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Flooring:CeramicTile,Laminate
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Fireplace:false
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Fireplace Features:None
Room Dimensions
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Living Area Source:PublicRecords
Location
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Latitude:41.812763
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Longitude:-71.457301
The Property
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Property Type:ResidentialIncome
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Property Subtype:Commercial
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Lot Size Acres:0.0826
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Lot Size Area:3600.0
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Lot Size Square Feet:3600.0
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Lot Size Units:SquareFeet
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Parcel Number:562PLAINFIELDSTPROV
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Zoning:R-3
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Road Surface Type:Concrete
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Land Lease:false
Listing Agent
- Contact info:
- Agent phone:
- (401) 281-8491
- Office phone:
- (401) 464-2617
Taxes
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Tax Year:2025
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Tax Annual Amount:6363.0
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Tax Assessed Value:306000
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Tax Lot:57
Beds
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Bedrooms Total:2
Baths
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Total Baths:1
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Full Baths:1
Heating & Cooling
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Heating:Oil,SpaceHeater
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Heating:true
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Cooling:AtticFan,WallUnits
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Cooling:true
Utilities
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Utilities:NaturalGasConnected,SewerConnected
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Electric:Amps100
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Sewer:Connected,PublicSewer
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Water Source:Connected,Public
Appliances
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Appliances:ExhaustFan,ElectricWaterHeater,Refrigerator
The Community
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Subdivision Name:Silver Lake
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Senior Community:false
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Community Features:HighwayAccess,NearHospital,NearSchools,PublicTransportation,RecreationArea,Restaurant,Shopping,Sidewalks,StreetLights
Parking
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Parking Total:5.0
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Parking Features:Detached,Garage
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Attached Garage:false
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Garage:true
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Garage Spaces:2.0
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Covered Spaces:2.0
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
6/16/25
Jun 16, 2025
|
Listed / Active | RIMLS | $449,990 |
