Mixed-Use Property with
New
For Sale
$1,450,000
1058 Charles Street, North Providence, RI 02904
Commercial/Business,Commercial Sale, North Providence, RI
Property Size7,593 SF
Lot Size0.69 Acres
Price / SF$190.97
Days on Market1
Property Features for 1058 Charles Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
50
Security features
Security System
Interior features
Ceiling Height (9 to 12 Ft)
Basement
Full
Lot features
Sidewalks, Free Standing
Standard status
Active
Size
7,593 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15665
Utilities
Heating system
Central, Forced Air
Cooling system
Central Air
Amenities
full commercial kitchen
brand new keg system
full basement
Building Details
Year built
1946
Floors in Building
2
Number of units
3
Building materials
Masonry
Listing Agency:
Broadway Real Estate Group
(401) 354-7969
Listed By:
Michelle Savastano · License #REB.0016954
(401) 265-7078
Added: Sep 26
Last Checked: Sep 26 at 1:06PM
MLS# 1424397
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
This 7,593-square-foot mixed-use property includes a restaurant with a commercial kitchen and operating equipment, a retail storefront, and two residential units. A full basement provides additional space. The masonry building dates to 1946 and has ceiling heights ranging from 9 to 12 feet, central heating and cooling, and forced-air heat. The site covers 0.689 acres across five separate lots.
Two of the lots are across the street and are currently used for parking. The property may be acquired as a complete package or without lots 247 and 264.
Two of the lots are across the street and are currently used for parking. The property may be acquired as a complete package or without lots 247 and 264.
Key Highlights
- 7,593‑square‑foot mixed‑use property on 0.689 acres
- Restaurant includes a commercial kitchen, operating equipment, and a keg system
- Property comprises a restaurant, retail storefront, and two residential units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$91,968
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,839,360
$1.8M
Cap Rate 7%
$1,313,829
$1.3M
Cap Rate 9%
$1,021,867
$1.0M
Market Conditions
NOI Build-Up for 7,593 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$136.7K $18.00/SF
− Vacancy
−$14.1K −$1.85/SF
EGI
$122.6K $16.15/SF
− OpEx
−$30.7K −$4.04/SF
NOI
$92.0K $12.11/SF
Area
Providence County, RI
Vacancy
10.28%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,839,360
Cap Rate 7%
$1,313,829
Cap Rate 9%
$1,021,867
Alternative Uses
Best Use
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,968 @ 7.0% cap · market cap 6.34%
Second Best
Mixed Use
$1.28M
$1.12M – $1.49M
NOI $89,692 @ 7.0% cap · market cap 6.19%
Theoretical Best
Multifamily LT 5
$1.81M
$1.58M – $2.11M
NOI $126,427 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
67k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 15%
Dollar Tree
Shops & Services
20,931 visits/mo
0.4 miles
Cumberland Farms
Shops & Services
18,873 visits/mo
0.1 miles
Shell
Shops & Services
12,105 visits/mo
0.2 miles
El Charro
Dining
8,111 visits/mo
0.2 miles
Citizens Bank
Shops & Services
5,175 visits/mo
0.2 miles
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a restaurant, a retail storefront, two residential units, and separate lots used for parking.
Where is this mixed-use property located?
The property is located at 1058 Charles Street North Providence, RI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 7,593‑square‑foot mixed‑use property on 0.689 acres; Restaurant includes a commercial kitchen, operating equipment, and a keg system; Property comprises a restaurant, retail storefront, and two residential units
