Turnkey Fast-Casual Restaurant
65 Weybosset #122 & 123 & 023 Providence, RI 02903
65 Weybosset #122 & 123 & 023, Providence, RI, 02903
$329,000
For Sale
$329,000
Three combined retail units inside Arcade Providence’s indoor shopping mall, currently set up for fast-casual food service.
Property Size1,278 SF
Price / SF$257.43
Days on Market83
Property Features for 65 Weybosset #122 & 123 & 023
General Information
- Standard status
- Active
- Size
- 1,278 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1828
Listing agency
BOND BROKERAGE
(401) 533-1021
Listed by
DON MARTONE
Source
Corcoran
Added: May 1 Updated: Jul 22 at 1:53AM Checked: Jul 22 at 1:53AM
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
Investment Insights
Based on property information with market context.
Position your business inside Arcade Providence, an 1828 National Historic Landmark. This turnkey commercial condo combines three units into a single space totaling 1,278 SF, including 412 SF of semi-finished lower-level storage. The interior has been renovated with over $180,000 in recent improvements, and the space is currently configured for fast-casual food service.
Located in Providence’s downtown indoor retail environment within America’s first indoor shopping mall, the offering benefits from the Arcade Providence setting and visibility associated with a landmark retail destination.
Located in Providence’s downtown indoor retail environment within America’s first indoor shopping mall, the offering benefits from the Arcade Providence setting and visibility associated with a landmark retail destination.
Key Highlights
- 1,278 SF combined commercial condo inside Arcade Providence, America’s first indoor shopping mall
- Three combined units currently configured for fast‑casual food service (includes 412 SF semi‑finished lower‑level storage)
- Built in 1828 and located within the 1828 National Historic Landmark, Arcade Providence
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 | $31.4k | $24.60 |
| − Vacancy | −$1.2k | −$0.93 |
| EGI | $30.2k | $23.67 |
| − OpEx | −$7.6k | −$5.92 |
| NOI | $22.7k | $17.75 |
1,278 SF · lease $24.60/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$324.0K
$283.5K – $378.1K
NOI $22,683 @ 7.0% cap · market cap 6.89%
Second Best
Retail
$271.8K
$237.8K – $317.1K
NOI $19,026 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$427.6K
$374.1K – $498.8K
NOI $29,929 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Three combined retail units inside Arcade Providence’s indoor shopping mall, currently set up for fast-casual food service.
Where is this retail space located?
The property is located at 65 Weybosset #122 & 123 & 023 Providence, RI.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 1,278 SF combined commercial condo inside Arcade Providence, America’s first indoor shopping mall; Three combined units currently configured for fast‑casual food service (includes 412 SF semi‑finished lower‑level storage); Built in 1828 and located within the 1828 National Historic Landmark, Arcade Providence
