Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Financial District Office Space Title is generated by Realmo AI

    143 Westminster St, Providence, RI

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Second-floor office space in downtown financial district.

    Type:OFFICE
    Property size:
    2,812 SF
    Lot size:
    0.20 Acres
    Added:
    Oct 28, 2022
    Days on Market:
    1294
    Last Refresh:
    Apr 5 at 10:18 pm

    Property Features for 143 Westminster St

    General Information

    Standard status
    Active
    Size
    2,812 SF
    Lot size
    0.20 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 143 Westminster St Contact us

    We can help!

    Listing Contact
    Sheldon E Rodman

    Listing agent Sheldon E Rodman

    Listing office Rodman Real Estate, Inc.

    Listing date Oct 28, 2022

    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 Rodman Real Estate, Inc.

    HighLights

    • Suites can be leased separately or combined for the entire second floor (up to 5,000 RSF).
    • Located in the heart of the downtown financial district.
    • Space is clean, well‑appointed, and has abundant natural light.
    • Four private parking spaces available.
    • Serviced by two elevators.
    • Flexible lease terms are negotiable.

    Overview

    Located in the heart of the downtown financial district, this office space is situated on the second floor of a three-story office building. The available space is clean, well-appointed, and benefits from an abundance of natural light. The second floor is accessible via two elevators. Suites can be leased separately or combined to encompass the entire second floor. Available spaces include 2,188 rentable square feet, 2,812 rentable square feet, and 5,000 rentable square feet. The annual rental rate is $16.00 per rentable square foot, under a modified gross lease. The tenant is responsible for utilities separately metered to the premises and a proportionate share of real property taxes. Lease terms are negotiable. There are four private parking spaces available on the north side of the building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Decubellis Douglas DC Alternative Medicine Practice Capitol Chiropractic Alternative Medicine Practice Penrose Commercial Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4114
    Latitude
    41.8243

    Nearby Similar for Lease

    • Contact for pricing

      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

      Commercial Space on North Main

      Multi-bay commercial space with garage access, available June 1st.
      1286 North Main Street, Providence, RI 02904
      View Details
    • Contact for pricing

      Renovated Office Suite For Rent

      Newly renovated office suite with modern layout and high visibility.
      959 N Main Street, Providence, RI 02904
      View Details
    • Contact for pricing

      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
    • Contact for pricing

      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

      Commercial Space on North Main

      Multi-bay commercial space with high traffic and easy access.
      1286 North Main, Providence, RI 02904
      View Details
    • $4,500/Mo

      Stylish Loft-Style Office Space

      Creative, open-concept office with kitchen and spa-like bathroom.
      28 Wolcott, Providence, RI 02908
      View Details
    • $700/Mo

      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

      Providence Industrial Flex Space

      Versatile industrial space in Providence, ideal for various commercial uses.
      90 Salmon Street, Providence, RI 02909
      View Details
    • Sponsored
      Contact for pricing

      Westminster Square

      10 Dorrance St, Unit 700, Providence, RI 02903
      View Details
    • $695/Mo

      Renovated Office Space on Broadway

      Lower level office with private bathroom and kitchenette for rent.
      390 Broadway #lower, Providence, RI 02909
      View Details
    • $2,600/Mo

      Renovated Office Suite For Rent

      Newly renovated 1,073 sq ft office suite for lease.
      959 N Main, Providence, RI 02904
      View Details

    FAQs

    What type of property is this?
    Office units - Second-floor office space in downtown financial district.
    Where is this office units located?
    The property is located at 143 Westminster St Providence, RI.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Suites can be leased separately or combined for the entire second floor (up to 5,000 RSF).; Located in the heart of the downtown financial district.; Space is clean, well‑appointed, and has abundant natural light.
    (401) 273-2270 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Sheldon E Rodman
    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
    143 Westminster St, 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!