Why 118 Silver Lake Avenue Is a Smart 1031 Exchange Opportunity
For commercial investors, the goal is simple: find an asset that delivers reliable income and reduces risk. If you're navigating a 1031 exchange, you also need certainty and speed. That’s exactly what the specialty-use property at 118 Silver Lake Avenue in Providence offers.
While many investors chase traditional retail or office spaces, service-based properties like automotive facilities often provide more consistent returns and lower vacancy risk. This is a rare, turnkey, income-producing asset with fundamentals built for immediate financial stability.
The Property & Its Core Value
This offering is straightforward: you are buying the real estate only, not the business. This makes for a clean, efficient investment opportunity.
Located in a central Providence neighborhood, 118 Silver Lake Avenue boasts strong visibility and direct access to major roads, ensuring continuous customer traffic.
Key Features That Protect Your Investment:
Size: 2,628± square feet of building area on an 8,276± square foot lot.
Parking: A generous 20 paved parking spaces, a critical feature for any automotive service business.
Reduced Maintenance: Though built in 1925, the property has been diligently maintained and recently upgraded with an updated roof and a newer heating system. This immediately lowers your near-term capital expenditure risk.
Investment Metrics That Guarantee Performance
In commercial real estate, the numbers must align with lending standards, especially when facing a 1031 deadline. 118 Silver Lake Avenue delivers:
High Cap Rate: The property is listed at a competitive ~7.2% Cap Rate at asking terms. This places it strongly within the Providence investment market.
Bankable DSCR: The Debt Service Coverage Ratio is robust, standing at ~1.13 at 7.0% interest and ~1.19 at 6.5% interest. Both figures comfortably exceed common lender thresholds, which is essential for smooth underwriting and a reliable closing timeline.
For 1031 exchange buyers, these strong financials are critical: they reduce lender scrutiny and increase your certainty of closing within the narrow mandated window.
The 1031 Exchange Advantage: Certainty Over Stress
When you're racing a 1031 exchange deadline, timing is everything. A complex or financially questionable property can force a rushed, stressful replacement decision.
By targeting a quick 60–75 day closing timeline, 118 Silver Lake Avenue is structured to help you preserve 105–120 days post-closing to select your next replacement property. This property provides:
Low-Risk Profile: Solid Cap Rate, bankable DSCR, and updated systems combine to give investors peace of mind that the exchange will be completed without unnecessary turbulence.
Market Demand: Providence is an attractive hub for service industries. The limited supply of functional, centrally located automotive-related facilities ensures resilient demand for this asset type.
This property is not just an investment; it is a meticulously structured solution designed to deliver income and guarantee the success of your exchange.
Secure Your Asset
If you are an investor seeking a secure, income-producing asset in a market with limited supply, 118 Silver Lake Avenue is a mandatory consideration.
To learn more or schedule a private showing, contact:
Alexander Parmenidez, Coldwell Banker Realty
(401) 426-4857