Mixed-Use Building With
For Sale
$859,000
11 Peck Street, Providence, RI 02903
Commercial/Business,Commercial Sale, Providence, RI
Property Size3,676 SF
Lot Size0.04 Acres
Price / SF$233.68
Days on Market124
Property Features for 11 Peck Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Interior features
Ceiling Height (9 to 12 Ft)
Basement
Full
Lot features
Downtown
Standard status
Active
Size
3,676 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
18766
Utilities
Cooling system
Central Air
Building Details
Year built
1920
Number of units
3
Building materials
Brick
Listing Agency:
Lenox Realty Group
(401) 572-3322
Listed By:
Gabe Francis
(617) 513-9156
Added: Apr 23
Changed: Aug 19
Last Checked: Aug 24 at 1:06PM
MLS# 1410813
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.
Located at 11 Peck Street in Providence, this 3,676-square-foot mixed-use building includes two commercial storefronts on the ground level and seven office suites upstairs. The property also includes a basement, brick construction, central air, and ceiling heights ranging from 9 to 12 feet. Built in 1920, the building is situated within an Opportunity Zone in downtown Providence.
The existing layout supports a combination of retail and office occupancy, with the second floor configured as individual office suites. Its central downtown setting and mixed-use arrangement provide a compact commercial footprint with separate street-level and upper-floor components.
The existing layout supports a combination of retail and office occupancy, with the second floor configured as individual office suites. Its central downtown setting and mixed-use arrangement provide a compact commercial footprint with separate street-level and upper-floor components.
Key Highlights
- 3,676‑square‑foot mixed‑use building at 11 Peck Street, Providence, RI
- Two commercial storefronts on the ground floor
- Seven office suites on the second floor
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
$62,901
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
7.32%
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%
$1,258,020
$1.3M
Cap Rate 7%
$898,586
$898.6K
Cap Rate 9%
$698,900
$698.9K
Market Conditions
NOI Build-Up for 3,676 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
$99.3K $27.00/SF
− Vacancy
−$15.4K −$4.19/SF
EGI
$83.9K $22.81/SF
− OpEx
−$21.0K −$5.70/SF
NOI
$62.9K $17.11/SF
Area
Providence, RI
Vacancy
15.50%
Lease Rate
$27.00 /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%
$1,258,020
Cap Rate 7%
$898,586
Cap Rate 9%
$698,900
Alternative Uses
Best Use
Office B
$898.6K
$786.3K – $1.05M
NOI $62,901 @ 7.0% cap · market cap 7.32%
Second Best
Retail
$781.8K
$684.1K – $912.1K
NOI $54,726 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,088 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,769
Businesses Nearby
Explore this area
Business Placement
Demographics for 02903, RI
13,264
Population
6,588
Households
2
Avg Household Size
33
Median Age
53%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,802
Density / Sq Mi
$62,987
Median Household Income
$40,294
Median Earnings
$1,640
Median Rent
$365,600
Median Home Value
Market
Vacancy Rate% for Office in Providence, RI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown commercial property combines street-level retail frontage with flexible upper-floor office space.
Where is this mixed-use property located?
The property is located at 11 Peck Street Providence, RI.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: 3,676‑square‑foot mixed‑use building at 11 Peck Street, Providence, RI; Two commercial storefronts on the ground floor; Seven office suites on the second floor
