Restaurant Space with Commercial
633 Charles, Providence, RI 02904
For Sale
Contact for pricing
First-floor restaurant space includes installed kitchen, ventilation, refrigeration, and food-preparation infrastructure.
Property Size2,158 SF
Price / SF$1.78
Days on Market57
Property Features for 633 Charles
General Information
Standard status
Size
Site & Location
Neighborhood
Highway Access
Road Access
Additional Details
Floor
Commercial Hood
Building Details
Year Built
Listing Agency:
BOND BROKERAGE
(401) 533-1021
Listed By:
Donald Martone · License RI REB.0018968
(401) 954-0270
Source:
Lockandkeyre
Added: Sep 19
Changed: Nov 12
Last Checked: Nov 12 at 7:13AM
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 BOND BROKERAGE
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Investment Insights
Based on property information with market context.
This restaurant property at 633 Charles Street includes approximately 2,158 SF of first-floor commercial space, with a layout suited to dine-in, takeout, and delivery operations. Existing improvements include a commercial kitchen with a large hood and ventilation system, cooking equipment, stainless-steel preparation areas, sinks, refrigeration, shelving, and other restaurant equipment. The property was built in 2016.
An additional 1,472 SF provides room for storage, food preparation, offices, employee areas, or expanded operations. The location offers access to I-95, Route 146, and the greater Providence market. The existing restaurant infrastructure supports a range of food-service formats, including fast-casual, QSR, franchise, sandwich, pizza, Mexican, Asian, café, bakery, and specialty food concepts.
An additional 1,472 SF provides room for storage, food preparation, offices, employee areas, or expanded operations. The location offers access to I-95, Route 146, and the greater Providence market. The existing restaurant infrastructure supports a range of food-service formats, including fast-casual, QSR, franchise, sandwich, pizza, Mexican, Asian, café, bakery, and specialty food concepts.
Key Highlights
- Approximately 2,158 SF of first‑floor commercial restaurant space
- Additional 1,472 SF for storage, preparation, offices, employee areas, or expansion
- Commercial kitchen with large hood and ventilation system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,302
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,040
$766.0K
Cap Rate 7%
$547,171
$547.2K
Cap Rate 9%
$425,578
$425.6K
Market Conditions
NOI Build-Up for 2,158 SF
Gross rent
$53.1K $24.60/SF
− Vacancy
−$2.0K −$0.93/SF
EGI
$51.1K $23.67/SF
− OpEx
−$12.8K −$5.92/SF
NOI
$38.3K $17.75/SF
Area
Providence, RI
Vacancy
3.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$766,040
Cap Rate 7%
$547,171
Cap Rate 9%
$425,578
Alternative Uses
Best Use
Specialty Retail
$547.2K
$478.8K – $638.4K
NOI $38,302 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$722.0K
$631.7K – $842.3K
NOI $50,538 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
58k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 20%
Speedway
Shops & Services
12,135 visits/mo
0.5 miles
Burger King
Dining
11,763 visits/mo
0.5 miles
Dollar General
Shops & Services
11,599 visits/mo
0.5 miles
Stop & Shop Gas
Shops & Services
8,111 visits/mo
0.5 miles
Citgo
Shops & Services
6,209 visits/mo
0.4 miles
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Providence, RI
Properties on Market for Conventional restaurants in Providence
Vacancy Rate% for Retail in Providence, RI
Frequently Asked Questions
What type of property is this?
Conventional restaurant - First-floor restaurant space includes installed kitchen, ventilation, refrigeration, and food-preparation infrastructure.
Where is this conventional restaurant located?
The property is located at 633 Charles Providence, RI.
What are key features of this property?
This property features: Approximately 2,158 SF of first‑floor commercial restaurant space; Additional 1,472 SF for storage, preparation, offices, employee areas, or expansion; Commercial kitchen with large hood and ventilation system
