Vacant Retail Space with
New
For Sale
$150,000
65 Weybosset #104, Providence, RI 02903
Downtown retail condominium with supplemental basement storage and immediate availability for occupancy.
Property Size450 SF
Price / SF$333.33
Days on Market4
Property Features for 65 Weybosset #104
General Information
Standard status
Active
Size
450 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Amenities
basement storage
Circuit Breakers
Building Details
Year Built
1829
Tenancy
Single
Listing Agency:
CENTURY 21 LIMITLESS
(508) 567-3468
Listed By:
KYLE SEYBOTH · License #32535
Source:
Corcoran
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 6:42AM
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 CENTURY 21 LIMITLESS
Investment Insights
Based on property information with market context.
This retail condominium at 65 Weybosset #104 provides 450 square feet on the main level plus basement storage. The unit is vacant and offers a compact commercial footprint for retail or business use. Built in 1829, the property is positioned within Downtown Providence’s urban commercial environment.
The location is near the Providence River, Riverwalk, WaterFire, Providence Place, Brown University, RISD, Johnson & Wales University, the Rhode Island Convention Center, Amica Mutual Pavilion, and Providence Performing Arts Center. Access to I-95, I-195, Route 6, Route 10, RIPTA, and commuter connections is nearby. Rhode Island Hospital and Hasbro Children’s Hospital are also in the surrounding area, while T.F. Green Airport is approximately 15 minutes away.
The location is near the Providence River, Riverwalk, WaterFire, Providence Place, Brown University, RISD, Johnson & Wales University, the Rhode Island Convention Center, Amica Mutual Pavilion, and Providence Performing Arts Center. Access to I-95, I-195, Route 6, Route 10, RIPTA, and commuter connections is nearby. Rhode Island Hospital and Hasbro Children’s Hospital are also in the surrounding area, while T.F. Green Airport is approximately 15 minutes away.
Key Highlights
- 450 square feet of retail space
- Basement provides additional storage
- Vacant unit available for immediate occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$6,699
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$133,980
$134.0K
Cap Rate 7%
$95,700
$95.7K
Cap Rate 9%
$74,433
$74.4K
Market Conditions
NOI Build-Up for 450 SF
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.
Gross rent
$10.0K $22.20/SF
− Vacancy
−$420 −$0.93/SF
EGI
$9.6K $21.27/SF
− OpEx
−$2.9K −$6.38/SF
NOI
$6.7K $14.89/SF
Area
Providence, RI
Vacancy
4.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$133,980
Cap Rate 7%
$95,700
Cap Rate 9%
$74,433
Alternative Uses
Best Use
Retail
$95.7K
$83.7K – $111.7K
NOI $6,699 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$150.5K
$131.7K – $175.6K
NOI $10,538 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,769
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 59%
Hotels & Casinos 34%
Dining 7%
Marathon
Shops & Services
8,137 visits/mo
0.5 miles
Residence Inn Providence Downtown
Hotels & Casinos
6,054 visits/mo
0.4 miles
Bank of America
Shops & Services
4,543 visits/mo
0.2 miles
Homewood Suites by Hilton Providence Downtown
Hotels & Casinos
3,707 visits/mo
0.3 miles
BayCoast Bank
Shops & Services
2,442 visits/mo
0.1 miles
Demographics for 02903, RI
13,264
Population
6,588
Households
2
Avg Household Size
33
Median Age
53%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,802
Density / Sq Mi
$62,987
Median Household Income
$40,294
Median Earnings
$1,640
Median Rent
$365,600
Median Home Value
Market
Vacancy Rate% for Retail in Providence, RI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Downtown retail condominium with supplemental basement storage and immediate availability for occupancy.
Where is this retail space located?
The property is located at 65 Weybosset #104 Providence, RI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 450 square feet of retail space; Basement provides additional storage; Vacant unit available for immediate occupancy
