Building Details

Year Built 1905

Stories 2

Units 2

Tenancy Single

Listing Agency: Sweeney Real Estate &Appraisal

Listed By: Thomas Sweeney Show Phone

Source: Crexi

Added: Aug 7 Changed: Oct 1 Last Checked: Oct 14 at 8:22PM

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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 Sweeney Real Estate &Appraisal

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Investment Insights

Based on property information with market context.

This mixed-use property comprises 8,788 square feet in a building constructed in 1905, with a retail component identified in the listing information. The asset carries C-2 zoning, supporting its established commercial classification.

Located at 235 Meeting Street in Providence, Rhode Island, the property is offered for sale and reports a 4.38% CAP rate. Its combination of mixed-use classification, retail presence, commercial zoning, and established building vintage provides a concise profile for review by prospective buyers.

Key Highlights

• 8,788‑square‑foot mixed‑use property
• Retail component in the property
• C‑2 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$130,830

Cap Rate

3.27%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,616,600 $2.6M

Cap Rate 7%

$1,869,000 $1.9M

Cap Rate 9%

$1,453,667 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,788 SF

Gross rent

$195.1K $22.20/SF

− Vacancy

−$8.2K −$0.93/SF

EGI

$186.9K $21.27/SF

− OpEx

−$56.1K −$6.38/SF

NOI

$130.8K $14.89/SF

Area

Providence, RI

Vacancy

4.20%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,616,600

Cap Rate 7%

$1,869,000

Cap Rate 9%

$1,453,667

Alternative Uses

Best Use

Retail

$1.87M

$1.64M – $2.18M (±1% cap)

NOI $130,830 @ 7.0% cap · market cap 3.27%

Second Best

Mixed Use

$1.78M

$1.55M – $2.07M (±1% cap)

NOI $124,306 @ 7.0% cap · market cap 3.11%

Theoretical Best

Office A

$2.94M

$2.57M – $3.43M (±1% cap)

NOI $205,805 @ 7.0% cap · market cap 5.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Nursing Home Daycare Center Grocery & Convenience Store Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,793

Businesses Nearby

27k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 70% Shops & Services 17% Apparel 13%

Insomnia Cookies Dining

8,828 visits/mo 0.2 miles

Citizens Bank Shops & Services

4,414 visits/mo 0.0 miles

Urban Outfitters Apparel

3,496 visits/mo 0.1 miles

Aroma Joe's Dining

3,363 visits/mo 0.1 miles

Pokeworks Dining

3,064 visits/mo 0.1 miles

Demographics for 02906, RI

25,559

Population

13,468

Households

1.9

Avg Household Size

35

Median Age

80%

College-Educated

97%

High-School Grad

3.1 sq mi

ZIP Area

8,245

Density / Sq Mi

$102,796

Median Household Income

$57,214

Median Earnings

$1,729

Median Rent

$582,700

Median Home Value

Market

Vacancy Rate% for Retail in Providence, RI

8.5% 2019

8.8% 2020

7.9% 2021

6.2% 2022

6% 2023

5% 2024

6.7% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - C-2-zoned mixed-use property featuring a retail component in a 1905 building.

Where is this mixed-use property located?

The property is located at 235 Meeting Street Providence, RI.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: 8,788‑square‑foot mixed‑use property; Retail component in the property; C‑2 zoning