NORTH PROVIDENCE – The property that once served as Jimmy Burchfield’s Classic Restaurant & Lounge and was later home to Arigna Irish Pub is back on the market.
The Broadway Real Estate Group has listed 1058 Charles St. and its surrounding properties, purchased by Gordon Hyde and his companies back in late 2017, for $1.6 million.
Arigna’s owners had indicated last fall that they expected to rebrand with more of an Italian theme, stating then that they still loved the town, even as they expanded elsewhere, but thought a new concept was in order.
Burchfield said back in 2017 that he wouldn’t just let anyone take over the landmark restaurant location at the busy location, which is why he was selling to Hyde.
The property was first built in 1946.
Burchfield recalled at the time in 2017 how he had originally transformed “Classic from a little checkerboard Italian restaurant to Las Vegas,” in a few days.
Hyde’s original purchase was of the restaurant and some surrounding lots, including parking across the street. Those are now being marketed as “an exceptional mixed-use investment opportunity in a highly visible, high traffic location at the corner of Charles Street and Mineral Spring Avenue.”
The offering consists of five separate lots with “exceptional flexibility and future development potential. The property includes a fully built out restaurant featuring a full commercial kitchen, all equipment necessary for operation, and a brand new keg system, making it ideal for an owner operator or investor.”
It lists .69 acres, 96 feet of frontage on Charles Street, and 50 parking spaces in the Commercial Village zone, which typically calls for more neighborhood business type uses that people can walk to.
Also included are “a retail storefront, two residential units that provide additional income potential, and two lots located across the street that are currently utilized for parking.”
“Whether you are looking to expand your investment portfolio, establish your own business, or explore redevelopment opportunities, this is a rare offering in one of the area’s most high traffic commercial corridors. Buyer to do their own due diligence,” states the listing.
Since taking over the property in 2017, Hyde has opened Azul Mexican at the former Murphy’s Law in Pawtucket and another Arigna location in Millis, Mass. Arigna maintains its locations in Bellingham, Mass, and Pawtucket, which is less than six miles from the North Providence property.
