May 26, 2024

Former Rhode Island Bank Building Ready To Cash Out for $749K

A historic financial institution building in Pawtucket, RI , is completely ready to lock up a sale.

Constructed in 1901 as Providence County Savings Lender, the four-floor, 10,452-sq.-foot neoclassical developing is shown for $749,000. Though no lengthier a lender, the framework could uncover new existence as any variety of various areas.

Just one fixture which is not heading any place is the eye-popping basement vault.

“It’s in remarkable condition and pristine on the inside and very well-preserved,” claims listing agent Kira Greene, with Compass. “The vault has definitely captured people’s imaginations.”

Exterior

(Jenna/ Listing Hub)

Vault

(Jenna/ Listing Hub)

Interior

(Jenna/ Listing Hub)

‘Enormous’ and ‘breathtaking’ vault

The vault is on the lowest degree and simply cannot be removed, even if a customer required to.

“The building was truly built all around the vault,” Greene clarifies. “The vault was constructed initially into the foundation of the assets. … It’s monumental and kind of breathtaking.”

The vault’s doorway is established in an open up position, for the reason that nobody has the code to it.

“Someone demands to get a locksmith to reset the code,” Greene claims. “Years in the past, they had an specialist arrive up from New York who stated it could be performed, but it remains in the open situation. You need a expert and obviously it is a specialty trade, resetting a vault code.”

Massive windows

(Jenna/ Listing Hub)

Entry

(Jenna/ Listing Hub)

Adaptable place

Greene suggests the vault, the dimension, and zoning possibilities signify it could be just about just about anything.

“Its use is genuinely versatile,” she notes. “I assume there is hardly ever a listing that I have had in which somebody would say, ‘What are you likely to use it for? Who’s likely to purchase it?’ I simply cannot remedy that problem.”

Inexperienced states she has had a lot more than a dozen showings, and more are scheduled.

“We have observed folks who want to renovate it into condos,” she states. “We’ve noticed people who want to make artists’ lofts. We have satisfied with nonprofits. We have achieved with a restaurant. It has all the components of remaining an awesome place for a lot of makes use of.”

Greene suggests she could consider a restaurant on the decrease stage, with the vault downstairs as a amazing bar location.

Rest room

(Jenna/ Listing Hub)

Versatile room

(Jenna/ Listing Hub)

Eating place

(Jenna/ Listing Hub)

Elevator

(Jenna/ Listing Hub)

Unlocking the alternatives

The existing owner is the building’s fourth, and he has employed the property as his artwork studio for 20 yrs.

There are “huge home windows, so he would create artwork with all the mild flooding in,” Greene claims, including that he has renovated and maintained the building’s inside. “It’s naturally dated but if you glimpse at the painting and the ceiling, there is not a crack. … It’s in pristine form.”

Particular original elements—such as the marble, masonry, and a tellers’ area—remain. And there is nonetheless a performing elevator.

The place even has 8 bedrooms, four baths, and a kitchen

“We counted the much larger rooms—that had closets—as bedrooms,” Greene states, conveying how she came up with the bedroom depend. “There are a large amount of rooms, which is why I can see this starting to be household.”

Or the previous bank could be turned into a mixed-use job, bringing the vault into play.

“Physically, it’s beautiful—big and shiny and magnificent-on the lookout,” Greene claims. “I believe individuals may perhaps get the making to do some thing creative with the vault. I just cannot solution just what that is but.”

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