Turnkey Restaurant with Liquor
For Sale
$1,150,000
18 Bridge, Providence, RI 02903
Sale includes the real estate plus a liquor license and a full restaurant license.
Property Size2,098 SF
Price / SF$548.14
Days on Market111
Property Features for 18 Bridge
General Information
Standard status
Active
Size
2,098 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Year Built
1985
Listing Agency:
Paiva Real Estate Services,LLC
Listed By:
Fred Grizotte
(413) 584-2900
Source:
Mapleandmainrealty
Added: May 30
Changed: Sep 15
Last Checked: Sep 16 at 8:07PM
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 Paiva Real Estate Services,LLC
Investment Insights
Based on property information with market context.
This for-sale restaurant property is being offered as a turnkey package that includes the real estate along with both a liquor license and a full restaurant license. The space is currently configured as a former restaurant, providing a ready starting point for an operator seeking an established restaurant setup.
The property is located at 18 Bridge in downtown Providence, directly across from the Providence Marina. Private showings are available and the offering is positioned for convenient evaluation by qualified buyers and brokers.
As presented, the transaction combines the physical premises with the licensing components that support restaurant operations.
The property is located at 18 Bridge in downtown Providence, directly across from the Providence Marina. Private showings are available and the offering is positioned for convenient evaluation by qualified buyers and brokers.
As presented, the transaction combines the physical premises with the licensing components that support restaurant operations.
Key Highlights
- Commercial property built in 1985 in downtown Providence
- Sale includes the real estate plus a liquor license and a full restaurant license
- Currently configured as a former restaurant space
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
$37,237
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
3.24%
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%
$744,740
$744.7K
Cap Rate 7%
$531,957
$532.0K
Cap Rate 9%
$413,744
$413.7K
Market Conditions
NOI Build-Up for 2,098 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
$51.6K $24.60/SF
− Vacancy
−$2.0K −$0.93/SF
EGI
$49.6K $23.67/SF
− OpEx
−$12.4K −$5.92/SF
NOI
$37.2K $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 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%
$744,740
Cap Rate 7%
$531,957
Cap Rate 9%
$413,744
Alternative Uses
Best Use
Specialty Retail
$532.0K
$465.5K – $620.6K
NOI $37,237 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$701.9K
$614.2K – $818.9K
NOI $49,133 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
6,343
Businesses Nearby
72k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 49%
Shops & Services 47%
Home Improvements & Furnishings 4%
Trader Joe's
Groceries
35,185 visits/mo
0.1 miles
Shell
Shops & Services
20,299 visits/mo
0.1 miles
Marathon
Shops & Services
8,137 visits/mo
0.2 miles
Blick Art Materials
Shops & Services
3,052 visits/mo
0.2 miles
Adler's Design Center & Hardware
Home Improvements & Furnishings
2,910 visits/mo
0.2 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 - Sale includes the real estate plus a liquor license and a full restaurant license.
Where is this conventional restaurant located?
The property is located at 18 Bridge Providence, RI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Commercial property built in 1985 in downtown Providence; Sale includes the real estate plus a liquor license and a full restaurant license; Currently configured as a former restaurant space
