Mixed-Use Property with
For Sale
Contact for pricing
235 Meeting Street, Providence, RI 02906
C-2-zoned mixed-use property featuring a retail component in a 1905 building.
Property Size8,788 SF
Price / SF$455.17
Days on Market25
Property Features for 235 Meeting Street
General Information
Standard status
Active
Size
8,788 SF
Property subtype
Retail, Mixed Use
Zoning
C-2
Investment Type
Stabilized
Net Operating Income
$175,325
Additional Details
Cap Rate
4.38%
Building Details
Year Built
1905
Stories
2
Units
2
Tenancy
Single
Listing Agency:
Sweeney Real Estate &Appraisal
(401) 331-9300
Listed By:
Thomas Sweeney
Source:
Crexi
Added: Aug 7
Changed: Aug 31
Last Checked: Aug 31 at 9:34AM
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
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.
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 = 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
$130,830
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
3.27%
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%
$2,616,600
$2.6M
Cap Rate 7%
$1,869,000
$1.9M
Cap Rate 9%
$1,453,667
$1.5M
Market Conditions
NOI Build-Up for 8,788 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
$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 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%
$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
NOI $130,830 @ 7.0% cap · market cap 3.27%
Second Best
Mixed Use
$1.78M
$1.55M – $2.07M
NOI $124,306 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,805 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
