Former Coffee Shop Redevelopment
60 Gano Providence, RI 02903
60 Gano, Providence, RI, 02903
$509,000
For Sale
$509,000
Former coffee shop in an R-4 Residential zoning district, sold as-is where-is, with redevelopment potential subject to approvals.
Property Size960 SF
Price / SF$530.21
Days on Market30
Property Features for 60 Gano
General Information
- Standard status
- Active
- Size
- 960 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1960
Listing agency
SALZBERG REAL ESTATE AGENCY
(401) 762-6430
Listed by
TINA ROSE
Source
Corcoran
Added: Jun 22 Updated: Jul 21 at 6:34AM Checked: Jul 21 at 6:34AM
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 SALZBERG REAL ESTATE AGENCY
Investment Insights
Based on property information with market context.
This former coffee shop property offers a redevelopment opportunity in Providence’s waterfront neighborhood. The site is located in an R-4 Residential zoning district and may offer potential for residential redevelopment and other permitted uses, subject to municipal approvals. The property is sold as-is where-is, with the buyer responsible for due diligence on zoning, permitted uses, and development potential.
The property sits directly across from ongoing Washington Bridge corridor improvements and planned public open space enhancements. It also provides walking-distance access to India Point Park, waterfront recreation, bike paths, marinas, and restaurants, with convenient access to I-195 and I-95 as well as nearby hospitals and universities on the East Side.
The property sits directly across from ongoing Washington Bridge corridor improvements and planned public open space enhancements. It also provides walking-distance access to India Point Park, waterfront recreation, bike paths, marinas, and restaurants, with convenient access to I-195 and I-95 as well as nearby hospitals and universities on the East Side.
Key Highlights
- Former coffee shop with 1960 year built, sold as‑is where‑is
- Located in an R‑4 Residential zoning district
- Redevelopment potential for residential and other permitted uses, subject to municipal approvals
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.6k | $24.60 |
| − Vacancy | −$897 | −$0.93 |
| EGI | $22.7k | $23.67 |
| − OpEx | −$5.7k | −$5.92 |
| NOI | $17.0k | $17.75 |
960 SF · lease $24.60/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$243.4K
$213.0K – $284.0K
NOI $17,039 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$321.2K
$281.0K – $374.7K
NOI $22,482 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
West Shore Coffee ...
Cafe & Coffee Shop
Similar For Sale Nearby
Similar Off Market Nearby
- The Rose Room Cafe — 460 Wickenden St, Providence, RI 02903
- Brown Bee Coffee — 404 Benefit St, Providence, RI 02903
- Coffee Exchange — 207 Wickenden St, Providence, RI 02903
- Caspian — 239 wickenden st, providence, ri 02903
- Small Format — 335 Wickenden St, Providence, RI 02903
FAQs
What type of property is this?
Coffee shop - Former coffee shop in an R-4 Residential zoning district, sold as-is where-is, with redevelopment potential subject to approvals.
Where is this coffee shop located?
The property is located at 60 Gano Providence, RI.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: Former coffee shop with 1960 year built, sold as‑is where‑is; Located in an R‑4 Residential zoning district; Redevelopment potential for residential and other permitted uses, subject to municipal approvals
