Office Unit with Deeded
For Sale
$299,000
4-80 Pitman St, Providence, RI 02911
Condominium office layout includes a reception area, private rooms, kitchen, dining space, bathroom, and updated systems.
Property Size1,245 SF
Price / SF$240.16
Days on Market145
Property Features for 4-80 Pitman St
General Information
Standard status
Active
Size
1,245 SF
Total Parking Spaces
2
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$2,651
Listing Agency:
Residential Properties Ltd.
(401) 274-6740
Listed By:
The Rockwell & Pierard Team
(401) 954-1159
Source:
Exprealty
Added: May 14
Changed: Sep 29
Last Checked: Oct 4 at 4:07PM
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 Residential Properties Ltd.
Investment Insights
Based on property information with market context.
This 1245 SF office condominium at 4-80 Pitman St includes a waiting area, three offices, a full kitchen with dining area, and a full bathroom. The unit also features an updated fire system and electrical service, supporting a range of professional office configurations.
Located in Providence’s Wayland Square area, the property conveys with two deeded parking spaces in the rear lot. The existing layout provides separate work areas alongside shared reception and amenity space.
Located in Providence’s Wayland Square area, the property conveys with two deeded parking spaces in the rear lot. The existing layout provides separate work areas alongside shared reception and amenity space.
Key Highlights
- 1245 SF office condominium in the Wayland Square area
- Three offices plus a waiting area
- Full kitchen with adjoining dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,304
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$426,080
$426.1K
Cap Rate 7%
$304,343
$304.3K
Cap Rate 9%
$236,711
$236.7K
Market Conditions
NOI Build-Up for 1,245 SF
Gross rent
$33.6K $27.00/SF
− Vacancy
−$5.2K −$4.19/SF
EGI
$28.4K $22.81/SF
− OpEx
−$7.1K −$5.70/SF
NOI
$21.3K $17.11/SF
Area
Providence, RI
Vacancy
15.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$426,080
Cap Rate 7%
$304,343
Cap Rate 9%
$236,711
Alternative Uses
Best Use
Office B
$304.3K
$266.3K – $355.1K
NOI $21,304 @ 7.0% cap · market cap 7.13%
Second Best
Healthcare Medical
$282.9K
$247.5K – $330.0K
NOI $19,801 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$416.5K
$364.5K – $485.9K
NOI $29,156 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Explore this area
Business Placement
Demographics for 02911, RI
16,384
Population
6,894
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
2.5 sq mi
ZIP Area
6,554
Density / Sq Mi
$85,803
Median Household Income
$53,209
Median Earnings
$1,480
Median Rent
$319,300
Median Home Value
Market
Vacancy Rate% for Office in Providence, RI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Condominium office layout includes a reception area, private rooms, kitchen, dining space, bathroom, and updated systems.
Where is this office units located?
The property is located at 4-80 Pitman St Providence, RI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1245 SF office condominium in the Wayland Square area; Three offices plus a waiting area; Full kitchen with adjoining dining area
