Professional Office Suite with
For Sale
Contact for pricing
45 Willard Avenue #3, Providence, RI 02905
Third-floor office suite with private entry, dedicated parking, training facilities, and a flexible multi-office layout.
Property Size6,706 SF
Price / SF$0.00
Days on Market58
Property Features for 45 Willard Avenue #3
General Information
Standard status
Active
Size
6,706 SF
Property subtype
Commercial
Additional Details
Floor
3
Office Units
1
Amenities
training room
boardroom
private entrance
Building Details
Year Built
1910
Listing Agency:
Residential Properties Ltd.
(401) 333-9333
Listed By:
Jessica Lavoie · License #RES.0041297
(401) 231-9497
Source:
Lockandkeyre
Added: Aug 20
Changed: Oct 16
Last Checked: Oct 16 at 9:21AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This approximately 6,706-square-foot third-floor office suite is located within the Weber/Renew Building and includes 15 private offices, a dedicated training room, and a boardroom. The configuration supports a range of professional office arrangements, from individual workspaces and executive suites to departmental occupancy. A private entrance and dedicated parking add practical convenience for daily operations and visitors.
Situated in Providence’s hospital district, the property offers an established commercial setting for medical, professional, administrative, nonprofit, or corporate office use. The combination of enclosed offices and dedicated meeting areas accommodates organizations that need room for presentations, staff development, conferences, and client gatherings.
Situated in Providence’s hospital district, the property offers an established commercial setting for medical, professional, administrative, nonprofit, or corporate office use. The combination of enclosed offices and dedicated meeting areas accommodates organizations that need room for presentations, staff development, conferences, and client gatherings.
Key Highlights
- Approximately 6,706 SF of third‑floor office space in the Weber/Renew Building
- 15 private offices for individual, executive‑suite, or departmental layouts
- Dedicated training room and boardroom for meetings and presentations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,658
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,133,160
$2.1M
Cap Rate 7%
$1,523,686
$1.5M
Cap Rate 9%
$1,185,089
$1.2M
Market Conditions
NOI Build-Up for 6,706 SF
Gross rent
$189.1K $28.20/SF
− Vacancy
−$11.3K −$1.69/SF
EGI
$177.8K $26.51/SF
− OpEx
−$71.1K −$10.60/SF
NOI
$106.7K $15.90/SF
Area
Providence, RI
Vacancy
6.00%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,133,160
Cap Rate 7%
$1,523,686
Cap Rate 9%
$1,185,089
Alternative Uses
Best Use
Office B
$1.64M
$1.43M – $1.91M
NOI $114,748 @ 7.0% cap · market cap 674,988.24%
Second Best
Healthcare Medical
$1.52M
$1.33M – $1.78M
NOI $106,658 @ 7.0% cap · market cap 627,400.00%
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $157,047 @ 7.0% cap · market cap 923,805.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
4,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Providence, RI
Frequently Asked Questions
What type of property is this?
Office units - Third-floor office suite with private entry, dedicated parking, training facilities, and a flexible multi-office layout.
Where is this office units located?
The property is located at 45 Willard Avenue #3 Providence, RI.
What are key features of this property?
This property features: Approximately 6,706 SF of third‑floor office space in the Weber/Renew Building; 15 private offices for individual, executive‑suite, or departmental layouts; Dedicated training room and boardroom for meetings and presentations
