Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Space Near Federal Hill Title is generated by Realmo AI

    579 Atwells Ave, Providence, RI

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space available adjacent to Federal Hill in Providence.

    Type:RETAIL
    Property size:
    2,800 SF
    Lot size:
    7.52 Acres
    Added:
    Mar 10, 2025
    Days on Market:
    455
    Last Refresh:
    May 19 at 8:35 pm

    Property Features for 579 Atwells Ave

    General Information

    Standard status
    Active
    Size
    2,800 SF
    Lot size
    7.52 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 579 Atwells Ave Contact us

    We can help!

    Listing Contact
    William F. Greene
    William F. Greene

    Listing agent William F. Greene

    Listing office Hayes & Sherry

    Listing date Mar 10, 2025

    Source Moodyscre

    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 Hayes & Sherry

    HighLights

    • Adjacent to the famous Federal Hill
    • Harmonious relationship between retail
    • Ten 19th century‑style mill buildings
    • City trolley stops inside the plaza
    • Bus stops at the exterior
    • Mill buildings

    Overview

    This 2,800 square-foot retail space is located adjacent to the Federal Hill neighborhood. The property consists of ten 19th-century-style mill buildings. City trolley stops are located inside the plaza, with bus stops available at the exterior.
    Location Intelligence

    Current Use by Public Records

    Subway Take-out & Catering Madrag Clothing & Fashion Store 10 Spot Clothing Store T-Nails Nail Salon H&R Block Tax Preparation

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Eagle Square Plaza — 623 Atwells Ave, Providence, RI 02909
    • CoinMover Bitcoin ATM — 163 Broadway, Providence, RI 02903
    • Coinstar Kiosk | Bitcoin ATM — 325 Valley St, Providence, RI 02908
    • Coin Cloud Bitcoin ATM — 28 Hartford Ave, Providence, RI 02909

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4363
    Latitude
    41.8247

    Nearby Similar for Lease

    • Sponsored
      $129-$6,816/Mo
      11-1,292 SF

      Westminster Square

      10 Dorrance St, Unit 700, Providence, RI 02903
      View Details
    • $650/Mo
      75 SF

      Private Office in Wayland Square

      Efficient office suite in a desirable Providence commercial corridor.
      501 Angell Street #205, Providence, RI 02906
      View Details
    • $10 SF/Yr
      4,311 SF

      Commercial Space on North Main

      Multi-bay commercial space with garage access, available June 1st.
      1286 North Main Street, Providence, RI 02904
      View Details
    • $21 SF/Yr
      1,330 SF

      Turn Key Medical Office Condo

      1,330 SF medical office condo with flexible floor plan.
      1268 Westminster Street #100, Providence, RI 02909
      View Details
    • $2,600/Mo
      1,073 SF

      Renovated Office Suite For Rent

      Newly renovated office suite with modern layout and high visibility.
      959 N Main Street, Providence, RI 02904
      View Details
    • $4,500/Mo
      2,200 SF

      Stylish Loft-Style Office Space

      Creative, open-concept office with kitchen and spa-like bathroom.
      28 Wolcott, Providence, RI 02908
      View Details
    • $4,000/Mo
      3,000 SF

      Providence Commercial/Industrial Building For Rent

      Versatile commercial/industrial building in a high-traffic Providence location.
      39 De Soto Street, Providence, RI 02909
      View Details
    • $650/Mo
      75 SF

      Private Office in Wayland Square

      Efficient office suite in desirable Providence commercial corridor. All utilities included.
      501 Angell #205, Providence, RI 02906
      View Details
    • $10 SF/Yr
      4,311 SF

      Commercial Space on North Main

      Multi-bay commercial space with high traffic and easy access.
      1286 North Main, Providence, RI 02904
      View Details
    • $700/Mo
      240 SF

      Wayland Square Therapy Office Sublease

      First-floor office sublease in Wayland Square, available March 1.
      245 Waterman #201, Providence, RI 02906
      View Details
    • $11 SF/Yr
      5,840 SF

      Providence Industrial Flex Space

      Versatile industrial space in Providence, ideal for various commercial uses.
      90 Salmon Street, Providence, RI 02909
      View Details
    • $17 SF/Yr
      1,800 SF

      Retail Space in Vibrant Plaza

      1800 SF corner retail space with parking and visibility.
      1017 Smith Street, Providence, RI 02908
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available adjacent to Federal Hill in Providence.
    Where is this shopping center located?
    The property is located at 579 Atwells Ave Providence, RI.
    What are key features of this property?
    This property features: Adjacent to the famous Federal Hill; Harmonious relationship between retail; Ten 19th century‑style mill buildings
    (401) 273-1980 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing William F. Greene
    William F. Greene
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    579 Atwells Ave, Providence, RI
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!