Building Details

Year built 1950

Number of units 1

Building materials Masonry

Listing Agency: Exp Realty L***@exprealty.com Show Phone

Listed By: John Zadroga Show Phone

Added: Oct 24 Last Checked: Oct 25 at 11:06AM

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MLS# 1426892

Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

Built in 1950, the masonry property contains 988 square feet on a 0.0735-acre parcel. The property is associated with a lemonade business and carries Comm 2 zoning.

The offering includes 35 Boyd Street and is to be sold together with 23 Cliff Street in Providence, Rhode Island.

Key Highlights

• 988‑square‑foot building on a 0.0735‑acre parcel
• Masonry construction; built in 1950
• Comm 2 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,536

Cap Rate

4.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$350,720 $350.7K

Cap Rate 7%

$250,514 $250.5K

Cap Rate 9%

$194,844 $194.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 988 SF

Gross rent

$24.3K $24.60/SF

− Vacancy

−$924 −$0.93/SF

EGI

$23.4K $23.67/SF

− OpEx

−$5.8K −$5.92/SF

NOI

$17.5K $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 Rate 5%

$350,720

Cap Rate 7%

$250,514

Cap Rate 9%

$194,844

Alternative Uses

Best Use

Specialty Retail

$250.5K

$219.2K – $292.3K (±1% cap)

NOI $17,536 @ 7.0% cap · market cap 4.38%

Second Best

Industrial

$139.6K

$122.2K – $162.9K (±1% cap)

NOI $9,772 @ 7.0% cap · market cap 2.44%

Theoretical Best

Office A

$330.5K

$289.2K – $385.6K (±1% cap)

NOI $23,138 @ 7.0% cap · market cap 5.78%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Commercial kitchens

Suggested Use

Top Pick Dental Office HVAC Service Electrical Service Carpet & Flooring Store Locksmith Parking Lot & Garage

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

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

2,155

Businesses Nearby

106k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 34% Shops & Services 33% Dining 27% Apparel 6%

Price Rite Groceries

36,226 visits/mo 0.2 miles

Pollo Campero Dining

12,148 visits/mo 0.2 miles

Dunkin' Donuts Dining

8,327 visits/mo 0.3 miles

Family Dollar Shops & Services

8,116 visits/mo 0.1 miles

Mobil Shops & Services

7,220 visits/mo 0.3 miles

Demographics for 02908, RI

38,507

Population

17,160

Households

2.2

Avg Household Size

32

Median Age

29%

College-Educated

84%

High-School Grad

3.4 sq mi

ZIP Area

11,326

Density / Sq Mi

$74,341

Median Household Income

$42,947

Median Earnings

$1,381

Median Rent

$293,800

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?

Commercial kitchen - Masonry construction and Comm 2 zoning are documented for this commercial property.

Where is this commercial kitchen located?

The property is located at 35 Boyd Street Providence, RI.

What is the asking price?

The asking price for this property is $399,999.

What are key features of this property?

This property features: 988‑square‑foot building on a 0.0735‑acre parcel; Masonry construction; built in 1950; Comm 2 zoning