Standalone Storefront
New
For Sale
$499,900
1099 Charles Street, North Providence, RI 02904
Open-plan commercial space with street and rear parking supports office, retail, or service uses.
Property Size2,760 SF
Price / SF$181.12
Days on Market7
Property Features for 1099 Charles Street
General Information
Standard status
Active
Size
2,760 SF
Property subtype
Commercial
Building Details
Year Built
1962
Buildings
1
Listing Agency:
RE/MAX Properties
(401) 232-3900
Listed By:
Karl Martone · License #145726
Source:
Lockandkeyre
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 18 at 4:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Properties
Investment Insights
Based on property information with market context.
This standalone storefront property contains approximately 2,760 square feet of open commercial space. Its adaptable layout can accommodate office, retail, or service-oriented operations, providing a flexible setting for a range of small business formats. The building was constructed in 1962.
The property is positioned near Mineral Spring Avenue in North Providence, with access to surrounding communities. Parking is available along the street and at the rear of the building.
The property is positioned near Mineral Spring Avenue in North Providence, with access to surrounding communities. Parking is available along the street and at the rear of the building.
Key Highlights
- Approximately 2,760 square feet of commercial space
- Open layout suited to office, retail, or service‑oriented uses
- Standalone building with street parking and parking at the rear
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
$35,675
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
7.14%
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%
$713,500
$713.5K
Cap Rate 7%
$509,643
$509.6K
Cap Rate 9%
$396,389
$396.4K
Market Conditions
NOI Build-Up for 2,760 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
$55.3K $20.04/SF
− Vacancy
−$7.7K −$2.81/SF
EGI
$47.6K $17.23/SF
− OpEx
−$11.9K −$4.31/SF
NOI
$35.7K $12.93/SF
Area
Providence County, RI
Vacancy
14.00%
Lease Rate
$20.04 /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%
$713,500
Cap Rate 7%
$509,643
Cap Rate 9%
$396,389
Alternative Uses
Best Use
Office B
$509.6K
$445.9K – $594.6K
NOI $35,675 @ 7.0% cap · market cap 7.14%
Second Best
Retail
$445.1K
$389.5K – $519.3K
NOI $31,159 @ 7.0% cap · market cap 6.23%
Theoretical Best
Multifamily LT 5
$656.5K
$574.4K – $765.9K
NOI $45,955 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Imondi & Sons Florists — 182 Smithfield Ave, Pawtucket, RI 02860
- Michael Florist Ltd — 1171 Mineral Spring Ave, North Providence, RI 02904
- Blossoms Design Boutique — 160 Smithfield Ave, Pawtucket, RI 02860
- Stop & Shop Florist — North Providence, RI 02904
Frequently Asked Questions
What type of property is this?
Storefront property - Open-plan commercial space with street and rear parking supports office, retail, or service uses.
Where is this storefront property located?
The property is located at 1099 Charles Street North Providence, RI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Approximately 2,760 square feet of commercial space; Open layout suited to office, retail, or service‑oriented uses; Standalone building with street parking and parking at the rear
