Corner Mixed-Use
New
For Sale
$405,000
1747 Smith Street, North Providence, RI 02911
Two-level layout pairs a commercial first floor with an updated two-bedroom apartment above.
Property Size1,176 SF
Price / SF$344.39
Days on Market5
Property Features for 1747 Smith Street
General Information
Standard status
Active
Size
1,176 SF
Property subtype
Commercial
Building Details
Year Built
1920
Listing Agency:
LPT Realty
(401) 757-0845
Listed By:
Wayne Hannon · License #RES.0042728
(401) 578-6960
Source:
Lockandkeyre
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 5 at 7:11AM
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 LPT Realty
Investment Insights
Based on property information with market context.
This mixed-use property, built in 1920, combines commercial and residential space in a two-level layout. The first floor includes a full bathroom and was formerly configured for barber shop use, while additional basement space features a wine cellar. An updated two-bedroom apartment occupies the upper level and can accommodate either owner occupancy or rental use.
The property sits on a corner lot along Smith Street in North Providence and includes on-site parking. Its combination of storefront-oriented space, residential accommodations, basement storage, and a separate apartment creates a flexible setup for an owner-user or investor.
The property sits on a corner lot along Smith Street in North Providence and includes on-site parking. Its combination of storefront-oriented space, residential accommodations, basement storage, and a separate apartment creates a flexible setup for an owner-user or investor.
Key Highlights
- Corner lot with on‑site parking
- Updated two‑bedroom apartment on the upper level
- First‑floor commercial space with full bathroom
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
$15,540
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
3.84%
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%
$310,800
$310.8K
Cap Rate 7%
$222,000
$222.0K
Cap Rate 9%
$172,667
$172.7K
Market Conditions
NOI Build-Up for 1,176 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
$30.1K $25.56/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$28.3K $24.03/SF
− OpEx
−$12.7K −$10.81/SF
NOI
$15.5K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
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%
$310,800
Cap Rate 7%
$222,000
Cap Rate 9%
$172,667
Alternative Uses
Best Use
Apartment 5plus
$222.0K
$194.3K – $259.0K
NOI $15,540 @ 7.0% cap · market cap 3.84%
Second Best
Mixed Use
$198.5K
$173.7K – $231.5K
NOI $13,892 @ 7.0% cap · market cap 3.43%
Theoretical Best
Multifamily LT 5
$279.7K
$244.8K – $326.4K
NOI $19,581 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 42%
McDonald's
Dining
21,001 visits/mo
0.4 miles
Dunkin' Donuts
Dining
11,358 visits/mo
0.1 miles
Citizens Bank
Shops & Services
9,352 visits/mo
0.5 miles
Cumberland Farms
Shops & Services
8,136 visits/mo
0.4 miles
TD Bank
Shops & Services
5,208 visits/mo
0.5 miles
Demographics for 02911, RI
16,384
Population
6,894
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
2.5 sq mi
ZIP Area
6,554
Density / Sq Mi
$85,803
Median Household Income
$53,209
Median Earnings
$1,480
Median Rent
$319,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout pairs a commercial first floor with an updated two-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 1747 Smith Street North Providence, RI.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Corner lot with on‑site parking; Updated two‑bedroom apartment on the upper level; First‑floor commercial space with full bathroom
