Brick Flex Space with Overhead
For Sale
$499,900
461 Douglas Avenue, Providence, RI 02908
Interior has been stripped to the walls for a full buildout.
Property Size3,120 SF
Price / SF$160.22
Days on Market48
Property Features for 461 Douglas Avenue
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Commercial
Property Condition
Severity
Major Repairs Needed
Evidence
completely gutted to the walls
Site & Location
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Power
400 amps
Three-Phase Power
Yes
Building Details
Year Built
1930
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: Oct 16
Last Checked: Oct 16 at 9:52AM
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
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Investment Insights
Based on property information with market context.
This 1930 commercial building offers a brick exterior, high ceilings, overhead doors, and a separate man-door entry. The interior has been cleared back to the walls, allowing the next owner to complete a full buildout around its intended operation. Newer 3-phase, 400-amp power is installed to support commercial functionality.
The property is located at 461 Douglas Avenue in Providence, RI 02908, along a high-traffic thoroughfare. The building has been identified for tradesman, storage, warehouse, and retail uses, providing flexibility for a range of commercial configurations.
The property is located at 461 Douglas Avenue in Providence, RI 02908, along a high-traffic thoroughfare. The building has been identified for tradesman, storage, warehouse, and retail uses, providing flexibility for a range of commercial configurations.
Key Highlights
- Brick commercial building constructed in 1930
- Overhead doors plus a separate man‑door entrance
- High‑ceiling interior suited to flexible commercial use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,870
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$837,400
$837.4K
Cap Rate 7%
$598,143
$598.1K
Cap Rate 9%
$465,222
$465.2K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$69.3K $22.20/SF
− Vacancy
−$4.8K −$1.55/SF
EGI
$64.4K $20.65/SF
− OpEx
−$22.5K −$7.23/SF
NOI
$41.9K $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 Rate 5%
$837,400
Cap Rate 7%
$598,143
Cap Rate 9%
$465,222
Alternative Uses
Best Use
Flex RnD
$598.1K
$523.4K – $697.8K
NOI $41,870 @ 7.0% cap · market cap 8.38%
Second Best
Warehouse
$491.5K
$430.0K – $573.4K
NOI $34,402 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$1.04M
$913.3K – $1.22M
NOI $73,067 @ 7.0% cap · market cap 14.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Providence, RI
Similar Off Market Nearby
- The Galley — 937 Chalkstone Ave, Providence, RI 02908
Frequently Asked Questions
What type of property is this?
Flex space - Interior has been stripped to the walls for a full buildout.
Where is this flex space located?
The property is located at 461 Douglas Avenue Providence, RI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Brick commercial building constructed in 1930; Overhead doors plus a separate man‑door entrance; High‑ceiling interior suited to flexible commercial use
