Mixed-Use Property on Broad
For Sale
Contact for pricing
1445 Broad Street, Providence, RI 02905
Mixed-use property with commercial space and residential units for sale.
Property Size2,297 SF
Price / SF$261.17
Days on Market173
Property Features for 1445 Broad Street
General Information
Standard status
Active
Size
2,297 SF
Property subtype
Mixed Use, Office, Land, Retail
Zoning
C-2
Building Details
Year Built
1930
Listing Agency:
Weichert Realtors-Atlantic Prp
(401) 324-5059
Listed By:
Denise Silva · License #REC.0017259
Source:
Crexi
Added: Feb 21
Changed: Aug 8
Last Checked: Aug 8 at 6:29AM
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 Weichert Realtors-Atlantic Prp
Investment Insights
Based on property information with market context.
This mixed-use property on Broad Street offers a first-floor commercial space suitable for an owner-occupant looking to operate their business on-site and generate income from residential units above. The layout provides a blend of commercial functionality and rental stability. The property presents a value-add opportunity with the potential to enhance cash flow through strategic leasing and management. It includes off-street parking and a prominent street presence. The property is suitable for both active ownership and portfolio expansion. The property size is 2297 square feet.
Key Highlights
- Prime first‑floor commercial space ideal for owner‑occupant.
- Supplemental income from residential units above.
- Off‑street parking.
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
$34,196
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
5.70%
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%
$683,920
$683.9K
Cap Rate 7%
$488,514
$488.5K
Cap Rate 9%
$379,956
$380.0K
Market Conditions
NOI Build-Up for 2,297 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
$51.0K $22.20/SF
− Vacancy
−$2.1K −$0.93/SF
EGI
$48.9K $21.27/SF
− OpEx
−$14.7K −$6.38/SF
NOI
$34.2K $14.89/SF
Area
Providence, RI
Vacancy
4.20%
Lease Rate
$22.20 /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%
$683,920
Cap Rate 7%
$488,514
Cap Rate 9%
$379,956
Alternative Uses
Best Use
Retail
$488.5K
$427.5K – $569.9K
NOI $34,196 @ 7.0% cap · market cap 5.70%
Second Best
Mixed Use
$464.2K
$406.1K – $541.5K
NOI $32,491 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$768.5K
$672.4K – $896.6K
NOI $53,793 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,209
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Dining 35%
Shops & Services 25%
Electronics 2%
Good Fortune Supermarket
Groceries
26,623 visits/mo
0.4 miles
Burger King
Dining
14,996 visits/mo
0.4 miles
Taco Bell
Dining
9,198 visits/mo
0.3 miles
Family Dollar
Shops & Services
8,316 visits/mo
0.2 miles
Cumberland Farms
Shops & Services
6,144 visits/mo
0.3 miles
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
Market
Vacancy Rate% for Retail in Providence, RI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with commercial space and residential units for sale.
Where is this mixed-use property located?
The property is located at 1445 Broad Street Providence, RI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Prime first‑floor commercial space ideal for owner‑occupant.; Supplemental income from residential units above.; Off‑street parking.
