Brick Flex
New
For Sale
$1,150,000
457 Douglas Avenue, Providence, RI 02908
Gutted commercial building offers high ceilings, drive-in access, and upgraded 400-amp three-phase power.
Property Size3,100 SF
Price / SF$227.54
Days on Market3
Property Features for 457 Douglas Avenue
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Power
400 amps
Three-Phase Power
Yes
Amenities
high ceilings
overhead drive-in doors
upgraded 400-amp 3-phase power
Building Details
Year Built
1928
Buildings
1
Building Size
3,100 SF
Construction
brick
Listing Agency:
BHHS Commonwealth Real Estate
(401) 886-6100
Listed By:
Allen Gammons · License #REB.0015256
(401) 742-6050
Source:
Lockandkeyre
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 9:41PM
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 BHHS Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This flex-space property at 457 Douglas Avenue in Providence features brick construction, high ceilings, and overhead drive-in doors. The interior has been fully gutted, creating a clean starting point for a custom buildout. Upgraded 400-amp, 3-phase power supports a range of commercial operations.
Built in 1928, the building has exposure along Douglas Avenue and is positioned for uses including trades, storage, light distribution, or retail, as supported by the existing configuration and utility service. The property is offered for sale.
Built in 1928, the building has exposure along Douglas Avenue and is positioned for uses including trades, storage, light distribution, or retail, as supported by the existing configuration and utility service. The property is offered for sale.
Key Highlights
- Fully gutted interior ready for a custom buildout
- 400‑amp 3‑phase power service
- High ceilings with overhead drive‑in doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,824
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,356,480
$1.4M
Cap Rate 7%
$968,914
$968.9K
Cap Rate 9%
$753,600
$753.6K
Market Conditions
NOI Build-Up for 5,054 SF
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.
Gross rent
$112.2K $22.20/SF
− Vacancy
−$7.9K −$1.55/SF
EGI
$104.3K $20.65/SF
− OpEx
−$36.5K −$7.23/SF
NOI
$67.8K $13.42/SF
Area
Providence, RI
Vacancy
7.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,356,480
Cap Rate 7%
$968,914
Cap Rate 9%
$753,600
Alternative Uses
Best Use
Flex RnD
$968.9K
$847.8K – $1.13M
NOI $67,824 @ 7.0% cap · market cap 5.90%
Second Best
Warehouse
$796.1K
$696.6K – $928.8K
NOI $55,726 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,359 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Providence, RI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Galley — 937 Chalkstone Ave, Providence, RI 02908
Frequently Asked Questions
What type of property is this?
Flex space - Gutted commercial building offers high ceilings, drive-in access, and upgraded 400-amp three-phase power.
Where is this flex space located?
The property is located at 457 Douglas Avenue Providence, RI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Fully gutted interior ready for a custom buildout; 400‑amp 3‑phase power service; High ceilings with overhead drive‑in doors
