Brick Flex Space with Drive-In
For Sale
$1,150,000
457 Douglas Avenue, Providence, RI 02908
Commercial/Business,Commercial Sale, Providence, RI
Property Size5,054 SF
Lot Size0.18 Acres
Price / SF$227.54
Days on Market47
Property Features for 457 Douglas Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
3
Subdivision
Providence College
Lot features
Downtown, Free Standing, Urban
Standard status
Active
Size
5,054 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15333
Utilities
Heating system
Central, Forced Air
Cooling system
Central Air
Building Details
Year built
1928
Floors in Building
1
Number of units
2
Building materials
Brick
Listing Agency:
Bhhs Commonwealth Real Estate · Berkshire Hathaway HomeServices
(401) 886-6100
Listed By:
Allen Gammons · License #REB.0015256
(401) 742-6050
Added: Aug 31
Changed: Sep 15
Last Checked: Oct 16 at 3:06AM
MLS# 1422015
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.
This brick flex property at 457 Douglas Avenue presents a largely open starting point for a new interior buildout. The building has high ceilings, overhead doors with drive-in access, and upgraded 400-amp 3-phase electrical service. Central air, central heating, and forced-air heat are also identified. The structure dates to 1928 and occupies a 0.18-acre site.
The property is positioned along Douglas Avenue in Providence, with the source information describing exposure to commercial traffic. Its stated use possibilities include trades, storage, light distribution, and retail, giving the space a range of practical commercial applications. The interior has been fully gutted, allowing the next owner to configure the premises around its operational needs.
The property is positioned along Douglas Avenue in Providence, with the source information describing exposure to commercial traffic. Its stated use possibilities include trades, storage, light distribution, and retail, giving the space a range of practical commercial applications. The interior has been fully gutted, allowing the next owner to configure the premises around its operational needs.
Key Highlights
- 400‑amp 3‑phase power service
- High ceilings with overhead drive‑in doors
- Fully gutted interior ready for custom buildout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,656
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,533,120
$1.5M
Cap Rate 7%
$1,095,086
$1.1M
Cap Rate 9%
$851,733
$851.7K
Market Conditions
NOI Build-Up for 5,054 SF
Gross rent
$148.6K $29.40/SF
− Vacancy
−$9.2K −$1.82/SF
EGI
$139.4K $27.58/SF
− OpEx
−$62.7K −$12.41/SF
NOI
$76.7K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,533,120
Cap Rate 7%
$1,095,086
Cap Rate 9%
$851,733
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$958.2K – $1.28M
NOI $76,656 @ 7.0% cap · market cap 6.67%
Second Best
Mixed Use
$1.02M
$893.6K – $1.19M
NOI $71,489 @ 7.0% cap · market cap 6.22%
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Gutted commercial building offers high ceilings, drive-in access, and 400-amp 3-phase power for a custom buildout.
Where is this mixed-use property 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: 400‑amp 3‑phase power service; High ceilings with overhead drive‑in doors; Fully gutted interior ready for custom buildout
