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    Office Warehouse Corner Building Title is generated by Realmo AI

    31 Delaine Street Providence, Providence, RI 02909

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    Claim this Listing
    New
    For Sale
    $1,675,000

    Corner office and warehouse property with truck loading docks, drive-ins, and ample parking.

    Property size:
    25,000 SF
    Lot size:
    1.17 Acres
    Price / SF:
    $67/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 1:55 am

    Property Features for 31 Delaine Street Providence

    General Information

    Standard status
    Active
    Size
    25,000 SF
    Lot size
    1.17 Acres

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Michele Costa

    Listing agent Michele Costa

    Listing office

    Listing date Jun 3, 2026

    Source Milestonerealtyinc

    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 Michele Costa

    HighLights

    • Approximately 25,000 SF office and warehouse building on 1.17 acres
    • Built in 1950; one‑owner building on the corner of Delaine St & Valley St
    • Zoned M‑MU75
    • Truck loading dock(s) plus overhead drive‑ins
    • Ample on‑site parking
    • Newer roof and newer HVAC; Phase I & Phase II completed, including UST removal for heating oil with closure documentation available upon request

    Overview

    31 Delaine Street is a one-owner building totaling approximately 25,000 square feet of office and warehouse space. The property sits on 1.17 acres and is zoned M-MU75. Built in 1950, the facility includes truck loading dock access and overhead drive-in doors. Updates include a newer roof and newer HVAC. Phase I and Phase II environmental work has been completed, with removal of a heating oil UST and closure documentation available upon request.

    The building is located at the corner of Delaine Street and Valley Street. Ample parking supports both customer and employee access, while the loading dock and drive-in components are designed for delivery and operational needs.

    This flex-style office/warehouse configuration can fit users looking to combine light office space with functional warehousing in a single facility. For buyers and operators, the improvements to the roof and HVAC, along with the existing loading and drive-in infrastructure, provide a practical base for continued operations. Environmental documentation is available for due diligence on request.
    Location Intelligence

    Current Use by Public Records

    Tercat Tool & Die ... Building Supply

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Bites by Bre — 11-17 Aleppo St, Providence, RI 02909
    • Lean on Me Foods — 91 Hartford Ave, Providence, RI 02909

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4398482
    Latitude
    41.8197024

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    FAQs

    What type of property is this?
    Flex space - Corner office and warehouse property with truck loading docks, drive-ins, and ample parking.
    Where is this flex space located?
    The property is located at 31 Delaine Street Providence Providence, RI.
    What is the asking price?
    The asking price for this property is $1,675,000.
    What are key features of this property?
    This property features: Approximately 25,000 SF office and warehouse building on 1.17 acres; Built in 1950; one‑owner building on the corner of Delaine St & Valley St; Zoned M‑MU75
    (508) 501-1443
    We can help!
    Listing Contact
    Michele Costa
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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