Masonry Storefront
For Sale
$499,900
1099 Charles Street, North Providence, RI 02904
Commercial/Business,Commercial Sale, North Providence, RI
Property Size2,760 SF
Lot Size0.12 Acres
Price / SF$181.12
Days on Market10
Property Features for 1099 Charles Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
6
Subdivision
Charles/Mineral Spring
Lot features
Suburban
Standard status
Active
Size
2,760 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7668
Building Details
Year built
1962
Number of units
1
Building materials
Masonry
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Karl Martone · License #145726
(401) 232-7900
Added: Aug 13
Last Checked: Aug 22 at 9:06AM
MLS# 1420586
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 standalone masonry storefront building contains approximately 2,760 square feet on a 0.118-acre parcel. The open interior can accommodate office, retail, or service-oriented business uses, subject to applicable requirements. Constructed in 1962, the property offers a straightforward commercial layout for an owner-user or operator seeking a dedicated storefront setting.
The building is located at 1099 Charles Street near Mineral Spring Avenue in North Providence. Parking is available along the street and at the rear of the property, providing practical access for visitors and daily operations.
The building is located at 1099 Charles Street near Mineral Spring Avenue in North Providence. Parking is available along the street and at the rear of the property, providing practical access for visitors and daily operations.
Key Highlights
- Approximately 2,760 square feet of commercial space
- 0.118‑acre parcel in North Providence
- Standalone masonry construction
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
$31,159
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
6.23%
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%
$623,180
$623.2K
Cap Rate 7%
$445,129
$445.1K
Cap Rate 9%
$346,211
$346.2K
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
$49.7K $18.00/SF
− Vacancy
−$5.2K −$1.87/SF
EGI
$44.5K $16.13/SF
− OpEx
−$13.4K −$4.84/SF
NOI
$31.2K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$623,180
Cap Rate 7%
$445,129
Cap Rate 9%
$346,211
Alternative Uses
Best Use
Retail
$445.1K
$389.5K – $519.3K
NOI $31,159 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
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
610
Businesses Nearby
67k
Monthly Visits Nearby
Under-served
Demand for This Use
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
0.1 miles
Citizens Bank
Shops & Services
5,175 visits/mo
0.0 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
Market
Vacancy Rate% for Retail 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 - Standalone retail property with flexible interior space and rear parking.
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; 0.118‑acre parcel in North Providence; Standalone masonry construction
