Office/Industrial Space in
For Sale
$475,000
174 Georgia, Providence, RI 02905
3,952 SF office/industrial space suitable for various uses.
Property Size3,952 SF
Price / SF$120.19
Days on Market190
Property Features for 174 Georgia
General Information
Standard status
Active
Size
3,952 SF
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
HOMESMART PROFESSIONALS
(401) 921-5011
Listed By:
MICHAEL ALVES · License #REC.0016995
Source:
Corcoran
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 8 at 6:15AM
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 HOMESMART PROFESSIONALS
Investment Insights
Based on property information with market context.
This 3,952 square-foot property is suitable for office, light industrial, contractor, or service use. It is located in an established industrial corridor in Providence, Rhode Island. The property offers convenient access to I-95, I-195, and Route 10. On-site parking is available. This property presents an opportunity for an owner-user or investor.
Key Highlights
- 3,952 SF office/industrial space suitable for various uses
- Convenient access to I‑95, I‑195, and Route 10
- Located in established Providence industrial corridor
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
$39,089
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
8.23%
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%
$781,780
$781.8K
Cap Rate 7%
$558,414
$558.4K
Cap Rate 9%
$434,322
$434.3K
Market Conditions
NOI Build-Up for 3,952 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
$59.3K $15.00/SF
− Vacancy
−$3.4K −$0.87/SF
EGI
$55.8K $14.13/SF
− OpEx
−$16.8K −$4.24/SF
NOI
$39.1K $9.89/SF
Area
Providence, RI
Vacancy
5.80%
Lease Rate
$15.00 /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%
$781,780
Cap Rate 7%
$558,414
Cap Rate 9%
$434,322
Alternative Uses
Best Use
Office B
$966.1K
$845.3K – $1.13M
NOI $67,624 @ 7.0% cap · market cap 14.24%
Second Best
Flex RnD
$757.6K
$662.9K – $883.9K
NOI $53,035 @ 7.0% cap · market cap 11.17%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,551 @ 7.0% cap · market cap 19.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Providence, RI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 3,952 SF office/industrial space suitable for various uses.
Where is this flex space located?
The property is located at 174 Georgia Providence, RI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3,952 SF office/industrial space suitable for various uses; Convenient access to I‑95, I‑195, and Route 10; Located in established Providence industrial corridor
