Mixed-Use Building with
For Sale
$649,000
61 Providence Street, West Warwick, RI 02893
Includes an operating café component and two one-bedroom residential apartments.
Property Size2,728 SF
Lot Size0.34 Acres
Price / SF$237.90
Days on Market65
Property Features for 61 Providence Street
General Information
Standard status
Active
Size
2,728 SF
Lot size
0.34 Acres
Building Details
Buildings
1
Listing Agency:
REMAX Revolution
(401) 921-5011
Listed By:
Michael Alves · License #REB.0014141
(401) 523-9555
Source:
Exprealty
Added: Aug 14
Changed: Oct 16
Last Checked: Oct 16 at 10:23AM
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 REMAX Revolution
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 mixed-use property combines a restaurant or café space with two one-bedroom residential apartments. The building contains 2,728 square feet and occupies a 0.34-acre lot, creating a combined commercial and residential configuration within one property.
The restaurant component is described as established and operating, while the residential portion provides two separate one-bedroom apartments. The property supports a live-work configuration and includes both business and residential uses in a single building.
The restaurant component is described as established and operating, while the residential portion provides two separate one-bedroom apartments. The property supports a live-work configuration and includes both business and residential uses in a single building.
Key Highlights
- 2,728 SF mixed‑use building
- 0.34‑acre lot
- Restaurant or café space included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,827
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,540
$956.5K
Cap Rate 7%
$683,243
$683.2K
Cap Rate 9%
$531,411
$531.4K
Market Conditions
NOI Build-Up for 2,728 SF
Gross rent
$65.5K $24.00/SF
− Vacancy
−$1.7K −$0.62/SF
EGI
$63.8K $23.38/SF
− OpEx
−$15.9K −$5.84/SF
NOI
$47.8K $17.53/SF
Area
Kent County, RI
Vacancy
2.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,540
Cap Rate 7%
$683,243
Cap Rate 9%
$531,411
Alternative Uses
Best Use
Specialty Retail
$683.2K
$597.8K – $797.1K
NOI $47,827 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 5.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
605
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes an operating café component and two one-bedroom residential apartments.
Where is this mixed-use property located?
The property is located at 61 Providence Street West Warwick, RI.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2,728 SF mixed‑use building; 0.34‑acre lot; Restaurant or café space included
