735 Allens Avenue

Providence, RI 02905

3.09 Acres - Full City Block Development Opportunity - Frontage on Allens, Virginia, Chapman, and Toronto Avenues with potential for significant subdivision. Originally home to Armbrust International (est. 1929), these buildings reflect over a century of craftsmanship in Providence, once America's Jewelry Capital. Constructed in 1947 and remodeled in 1968, the property blends classic mid-century design with upgraded infrastructure and expanded capacity. Totaling 100,000+ sq ft, the well-maintained buildings feature major updates including heating, HVAC, and roof. Flexible layouts, proven construction, and thoughtful improvements provide both character and long-term investment strength. Potential uses include apartments, life sciences, manufacturing, industrial, office/medical, education, or mixed-use redevelopment. Located in a designated Opportunity Zone, investors may qualify for significant tax benefits including deferred and reduced capital gains taxes and potential full exclusion on appreciation after 10 years.

Listing courtesy of The Local Group of Lila Delman Compass 4013633710



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Last checked: 2025-10-22 01:56 AM UTC