Office/Industrial Flex
For Sale
Contact for pricing
174 Georgia Ave, Providence, RI 02905
Mixed-use flex building totaling 3,952 SF with on-site parking, suited for office or light industrial service use.
Property Size3,952 SF
Price / SF$120.19
Days on Market193
Property Features for 174 Georgia Ave
General Information
Standard status
Active
Size
3,952 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
HomeSmart Professional Real Estate
(401) 523-9555
Listed By:
Michael A. Alves · License #REC.0016995
(401) 523-9555
Source:
Moodyscre
Added: Jan 30
Changed: Aug 8
Last Checked: Aug 11 at 6:51AM
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 HomeSmart Professional Real Estate
Investment Insights
Based on property information with market context.
The property offers a 3,952 SF office/industrial flex configuration suitable for office, light industrial, contractor, or service use. It provides a straightforward layout for businesses seeking a combined working and administrative space.
The building is located in an established Providence industrial corridor with convenient access to I-95, I-195, and Route 10. On-site parking is available for tenants and visitors.
This is a for-sale owner-user or investment opportunity. The property may also be combined as a package with MLS#1404314.
The building is located in an established Providence industrial corridor with convenient access to I-95, I-195, and Route 10. On-site parking is available for tenants and visitors.
This is a for-sale owner-user or investment opportunity. The property may also be combined as a package with MLS#1404314.
Key Highlights
- Mixed‑use office/industrial flex building totaling 3,952 SF
- Suitable for office, light industrial, contractor, or service use
- On‑site parking available
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
Lease Details
Yes
Highway access
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 - Mixed-use flex building totaling 3,952 SF with on-site parking, suited for office or light industrial service use.
Where is this flex space located?
The property is located at 174 Georgia Ave 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: Mixed‑use office/industrial flex building totaling 3,952 SF; Suitable for office, light industrial, contractor, or service use; On‑site parking available
