Turnkey Fast-Casual Restaurant
65 Weybosset Street #122 & 123 & 023 Providence, RI 02903
65 Weybosset Street #122 & 123 & 023, Providence, RI, 02903
$329,000
For Sale
$329,000
Turnkey restaurant-ready space within Arcade Providence, offering combined units and lower-level storage.
Property Size1,278 SF
Price / SF$257.43
Days on Market84
Property Features for 65 Weybosset Street #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) 954-0270
Listed by
Don Martone
(401) 954-0270
Source
Liongatere
Added: May 1 Updated: Jul 10 at 3:59PM Checked: Jul 22 at 6:18AM
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 indoor shopping mall in downtown Providence. This offering is a combined retail condominium delivered in a turnkey format and currently configured for fast-casual food service. The space totals 1,278 SF, including 412 SF of semi-finished lower-level storage, and it is comprised of three combined units.
The property benefits from its historic, indoor mall setting within one of the area’s most architecturally significant retail environments. Recent improvements are noted as exceeding $180,000, supporting an operation-ready condition. The Arcade Providence building also includes residential micro-lofts above, providing active mixed-use character within the structure.
For operators seeking a ready-to-open concept, the current fast-casual configuration and included storage area can reduce early buildout needs. It also supports consideration of other formats compatible with a flexible retail condominium arrangement, including boutique retail, hospitality, specialty food, or experiential concepts. Buyers and investors can evaluate the asset as a centrally located, historic-mall unit opportunity with documented renovation capital behind it.
The property benefits from its historic, indoor mall setting within one of the area’s most architecturally significant retail environments. Recent improvements are noted as exceeding $180,000, supporting an operation-ready condition. The Arcade Providence building also includes residential micro-lofts above, providing active mixed-use character within the structure.
For operators seeking a ready-to-open concept, the current fast-casual configuration and included storage area can reduce early buildout needs. It also supports consideration of other formats compatible with a flexible retail condominium arrangement, including boutique retail, hospitality, specialty food, or experiential concepts. Buyers and investors can evaluate the asset as a centrally located, historic-mall unit opportunity with documented renovation capital behind it.
Key Highlights
- Historic commercial space built in 1828, located inside Arcade Providence, a National Historic Landmark
- Includes 1,278 SF commercial offering with 412 SF semi‑finished lower‑level storage
- 3 combined units currently configured for fast‑casual food service
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
Shopping centers
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FAQs
What type of property is this?
Shopping center - Turnkey restaurant-ready space within Arcade Providence, offering combined units and lower-level storage.
Where is this shopping center located?
The property is located at 65 Weybosset Street #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: Historic commercial space built in 1828, located inside Arcade Providence, a National Historic Landmark; Includes 1,278 SF commercial offering with 412 SF semi‑finished lower‑level storage; 3 combined units currently configured for fast‑casual food service
