Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Carousel Dr East Providence, RI 02915

    Sponsored
    For Sale
    $249,000

    LAND - East Providence, RI

    Lot size:
    3.78 Acres
    Days on Market:
    90
    Last Refresh:
    Jan 28 at 2:06 pm

    Property Features for Carousel Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    3.78 Acres

    Utilities

    Utilities
    Natural Gas Available

    We can help!

    Listing Contact
    Nic Reuter

    Picerne Homes (401) 732-3700

    Listing agent Nic Reuter (401) 808-0834

    Listing date Oct 31, 2025

    MLS# 1398332 Listing URL

    Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    East Providence Commercial Land

    This property features over 3 acres of land zoned C1. The buyer is responsible for conducting all due diligence. The site offers high visibility and abuts a public park. It is located in East Providence, Rhode Island.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    East Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.359806
    Latitude
    41.756

    Nearby Similar for Sale

    • $1,050,000
      0.13 Acres

      East Providence Investment Opportunity

      Well-maintained 6-unit property in a prime East Providence location.
      53 School St, East Providence, RI 02914
      View Details
    • $1,850,000
      0.57 Acres

      Riverside Restaurant with Development Potential

      Thriving restaurant on a large lot with redevelopment possibilities.
      376 Bullocks Point Ave, East Providence, RI 02915
      View Details
    • New
      $580,000
      0.11 Acres

      East Providence Multifamily with Loft

      Well-maintained two-family with finished loft in prime location.
      94 Anthony St, East Providence, RI 02914
      View Details
    • $199,000

      East Providence Corner Office Space

      Turn-key office space in a convenient East Providence location.
      400 Massasoit Ave, East Providence, RI 02914
      View Details
    • Contact for pricing

      East Providence Corner Office Space

      Updated office space in a convenient East Providence location.
      400 Massasoit Ave, East Providence, RI 02914
      View Details
    • $995,000
      0.12 Acres

      Versatile Multi-Level Commercial Building

      Multi-level building with high visibility in high-traffic area.
      577 Warren Ave, East Providence, RI 02914
      View Details
    • Contact for pricing
      0.50 Acres

      East Providence Commercial Building

      Modern commercial/industrial building with high ceilings and overhead doors.
      11 Clemenseau St, East Providence, RI 02914
      View Details
    • $2,000,000

      Three-Story Office Building For Sale

      Versatile three-story office building with established tenants and prime location.
      999 S Broadway, East Providence, RI 02914
      View Details
    • $795,000
      7,296 SF

      East Providence Office Building For Sale

      Office building with two units, secured parking, and flexible space.
      312-314 Waterman Ave, East Providence, RI 02914
      View Details
    • $699,900

      Mixed-Use Property with Income Potential

      Mixed-use property featuring a laundromat and residential rental units.
      686 N Broadway, East Providence, RI 02914
      View Details
    • $1,100,000
      6,612 SF

      East Providence Insulated Warehouse For Sale

      6,612 SF insulated warehouse, fully leased until 2029.
      66 Valley St, East Providence, RI 02914
      View Details
    • $429,000
      4,020 SF

      Commercial Property on Warren Avenue

      Commercial property with high visibility and convenient access.
      230 Warren Ave, East Providence, RI 02914
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3+ acres of commercial land in East Providence, Rhode Island.
    Where is this commercial land located?
    The property is located at Carousel Dr East Providence, RI.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: - Over 3 acres zoned C1 offering diverse possibilities.; - High visibility ensures your business will be seen.; - Property abuts a public park, providing a unique amenity.
    (401) 732-3700
    Request Owner's contact information
    Carousel Dr East Providence, RI 02915
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Carousel Dr
    East Providence, RI 02915
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Carousel Dr East Providence, RI 02915
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nic Reuter
    (401) 732-3700
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.