Restaurant Condominium with Equipped
New
For Sale
$725,000
150 Chestnut Street #A, Providence, RI 02903
First-floor food-service space includes a walk-in cooler and a built-in bar with ample seating areas.
Property Size3,580 SF
Price / SF$202.51
Days on Market5
Property Features for 150 Chestnut Street #A
General Information
Standard status
Active
Size
3,580 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
Peter M. Scotti & Assoc.,Inc.
(401) 421-8888
Listed By:
Heather Carnevale
Source:
Lockandkeyre
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 9:51AM
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 Peter M. Scotti & Assoc.,Inc.
Investment Insights
Based on property information with market context.
This 3,580-square-foot restaurant and lounge condominium occupies the first floor of the Doran Building, a historic brick property built in 1900. The space has a fully equipped kitchen, walk-in refrigeration, a stone-topped bar, and multiple seating areas.
The property is at 150 Chestnut Street in Providence’s Jewelry/Knowledge District, within walking distance of Brown University Medical School, research labs, offices, housing, hotels, restaurants, and entertainment venues. The building includes residential, loft, office, studio, and commercial uses. D-2 zoning may allow a change of use.
The property is at 150 Chestnut Street in Providence’s Jewelry/Knowledge District, within walking distance of Brown University Medical School, research labs, offices, housing, hotels, restaurants, and entertainment venues. The building includes residential, loft, office, studio, and commercial uses. D-2 zoning may allow a change of use.
Key Highlights
- 3,580‑square‑foot restaurant/lounge condominium
- First‑floor unit in the historic brick Doran Building, built in 1900
- Fully equipped kitchen and walk‑in refrigeration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,541
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,270,820
$1.3M
Cap Rate 7%
$907,729
$907.7K
Cap Rate 9%
$706,011
$706.0K
Market Conditions
NOI Build-Up for 3,580 SF
Gross rent
$88.1K $24.60/SF
− Vacancy
−$3.3K −$0.93/SF
EGI
$84.7K $23.67/SF
− OpEx
−$21.2K −$5.92/SF
NOI
$63.5K $17.75/SF
Area
Providence, RI
Vacancy
3.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,270,820
Cap Rate 7%
$907,729
Cap Rate 9%
$706,011
Alternative Uses
Best Use
Specialty Retail
$907.7K
$794.3K – $1.06M
NOI $63,541 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,839 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,925
Businesses Nearby
78k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Groceries 45%
Home Improvements & Furnishings 4%
Dining 2%
Trader Joe's
Groceries
35,185 visits/mo
0.5 miles
Shell
Shops & Services
20,299 visits/mo
0.5 miles
Marathon
Shops & Services
8,137 visits/mo
0.2 miles
Bank of America
Shops & Services
4,543 visits/mo
0.5 miles
Adler's Design Center & Hardware
Home Improvements & Furnishings
2,910 visits/mo
0.5 miles
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 Retail in Providence, RI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - First-floor food-service space includes a walk-in cooler and a built-in bar with ample seating areas.
Where is this conventional restaurant located?
The property is located at 150 Chestnut Street #A Providence, RI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,580‑square‑foot restaurant/lounge condominium; First‑floor unit in the historic brick Doran Building, built in 1900; Fully equipped kitchen and walk‑in refrigeration
