Retail Space Expansion
For Sale
Contact for pricing
2026 Smith ST Smith Street, North Providence, RI 02911
Retail space with expansion potential for apartments or offices.
Property Size8,000 SF
Price / SF$231.25
Days on Market910
Property Features for 2026 Smith ST Smith Street
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
30
Property subtype
Land, Mixed Use, Retail, Hospitality, Office
Building Details
Year Built
1951
Buildings
1
Units
1
Listing Agency:
RE/MAX Properties
(401) 232-3900
Listed By:
Karl Martone · License #145726
Source:
Crexi
Added: Feb 22, 2024
Changed: Aug 19
Last Checked: Aug 20 at 2:02PM
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 RE/MAX Properties
Investment Insights
Based on property information with market context.
This property features over 8,000 square feet of retail space in a prime location, offering significant expansion possibilities. A potential second level development could accommodate apartments, office space, or additional retail areas. The property includes parking. The current business operating on the premises is available for separate purchase. The property's location and existing retail space provide a foundation for future development.
Key Highlights
- Prime location
- Tremendous expansion possibilities
- Over 8,000 sq ft of retail 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
$94,500
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
5.11%
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%
$1,890,000
$1.9M
Cap Rate 7%
$1,350,000
$1.4M
Cap Rate 9%
$1,050,000
$1.1M
Market Conditions
NOI Build-Up for 8,000 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
$168.0K $21.00/SF
− Vacancy
−$16.8K −$2.10/SF
EGI
$151.2K $18.90/SF
− OpEx
−$56.7K −$7.09/SF
NOI
$94.5K $11.81/SF
Area
Providence County, RI
Vacancy
10.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,890,000
Cap Rate 7%
$1,350,000
Cap Rate 9%
$1,050,000
Alternative Uses
Best Use
Mixed Use
$1.35M
$1.18M – $1.58M
NOI $94,500 @ 7.0% cap · market cap 5.11%
Second Best
Retail
$1.29M
$1.13M – $1.51M
NOI $90,317 @ 7.0% cap · market cap 4.88%
Theoretical Best
Multifamily LT 5
$1.90M
$1.67M – $2.22M
NOI $133,204 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
50k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 35%
McDonald's
Dining
21,001 visits/mo
0.4 miles
Dunkin' Donuts
Dining
11,358 visits/mo
0.1 miles
Dollar General
Shops & Services
8,506 visits/mo
0.4 miles
Cumberland Farms
Shops & Services
8,136 visits/mo
0.5 miles
Enterprise Rent-A-Car
Shops & Services
1,102 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?
Retail space - Retail space with expansion potential for apartments or offices.
Where is this retail space located?
The property is located at 2026 Smith ST Smith Street North Providence, RI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Prime location; Tremendous expansion possibilities; Over 8,000 sq ft of retail space
