1. Rhode Island
2. Providence
3. 562 Plainfield Street

562 Plainfield Street, Providence, RI 02909

• 2 beds |
• 1 bath |
• 2,828 sqft

Property Description

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!

Listing Status:

Active

Date Added:

June 16, 2025 at 05:00AM

Listing Office:

Smith and Oak Real Estate Co. : 401-464-2617

MLS ID:

1387578

Interior

• General: Tub Shower
• Appliances: Exhaust FanElectric Water HeaterRefrigerator
• Basement: Exterior EntryInterior EntryPartialUnfinished
• Flooring: Ceramic TileLaminate
• A/C: Attic FanWall Unit(s)
• Heating: OilSpace Heater
• Fireplace: Fireplaces: 0

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Smith and Oak Real Estate Co.