Mixed-Use Building with
374 Wickenden Street Providence Providence, RI 02903
374 Wickenden Street Providence, Providence, RI, 02903
$1,650,000
For Sale
$1,650,000
Fully rented mixed-use building with restaurant in prime location.
Property Size4,525 SF
Price / SF$364.64
Days on Market63
Property Features for 374 Wickenden Street Providence
General Information
- Standard status
- Active
- Size
- 4,525 SF
Building Details
- Year Built
- 1900
Listing Agency
(508) 501-1443
Listed by
Alyson Roslonek
(508) 501-1443
Source
Milestonerealtyinc
Added: May 15 Checked: Jul 16 at 3:07 am
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 Alyson Roslonek
Investment Insights
Based on property information with market context.
This mixed-use building features fully rented residential units until May 31, 2027, and a long-standing pizza place on the first floor operating under a NNN lease. The property was fully renovated to the studs approximately ten years ago. The residential units include a 3-bed, 1-bath unit on the second floor, and a 4-bed, 2-bath townhouse spanning the third and fourth floors. Each unit is equipped with central air, in-unit laundry, and modern kitchens and bathrooms. The restaurant tenant contributes to one-third of the owner's expenses and is subject to an annual 2% rent increase. The property has a total size of 4,525 square feet. The building's location provides easy access to Downtown Providence and interstates, and is a short distance from Brown University and RISD campuses. This accessibility enhances its appeal as a rental location and supports the restaurant's business. There is no parking on site.
Key Highlights
- Fully rented residential units until May 31, 2027, providing guaranteed income.
- Long‑standing pizza place on the first floor with a NNN lease, contributing to income and covering a third of the owner's expenses.
- Low vacancy rate and low maintenance costs, ensuring a stable and profitable investment.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $111.3k | $24.60 |
| − Vacancy | −$4.2k | −$0.93 |
| EGI | $107.1k | $23.67 |
| − OpEx | −$26.8k | −$5.92 |
| NOI | $80.3k | $17.75 |
4,525 SF · lease $24.60/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,314 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$980.5K
$857.9K – $1.14M
NOI $68,633 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.51M
$1.32M – $1.77M
NOI $105,970 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Pizza Pie-er
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Fully rented mixed-use building with restaurant in prime location.
Where is this mixed-use property located?
The property is located at 374 Wickenden Street Providence Providence, RI.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Fully rented residential units until May 31, 2027, providing guaranteed income.; Long‑standing pizza place on the first floor with a NNN lease, contributing to income and covering a third of the owner's expenses.; Low vacancy rate and low maintenance costs, ensuring a stable and profitable investment.
