Vacant Storefront
For Sale
$150,000
65 Weybosset Street, Providence, RI 02903
Commercial/Business,Commercial Sale, Providence, RI
Property Size450 SF
Lot Size0.48 Acres
Price / SF$333.33
Days on Market12
Property Features for 65 Weybosset Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Downtown
Standard status
Active
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Amenities
basement storage
Building Details
Year built
1829
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
(508) 726-3492
Added: Aug 12
Last Checked: Aug 23 at 2:06PM
MLS# 1420447
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant storefront condominium at 65 Weybosset Street provides a compact commercial setting with an included basement for storage. The unit offers an unoccupied interior for a new retail or business operation, with the building dating to 1829.
The property is positioned in downtown Providence near the Providence River, Riverwalk, WaterFire, Providence Place, Brown University, RISD, Johnson & Wales University, and the Rhode Island Convention Center. Additional nearby destinations include Amica Mutual Pavilion, Providence Performing Arts Center, Rhode Island Hospital, and Hasbro Children's Hospital. Regional access is available via I-95, I-195, Route 6, Route 10, RIPTA, and nearby commuter connections, with T.F. Green Airport approximately 15 minutes away.
The condominium may also be sold as part of a package with units 116-117 and 118-119.
The property is positioned in downtown Providence near the Providence River, Riverwalk, WaterFire, Providence Place, Brown University, RISD, Johnson & Wales University, and the Rhode Island Convention Center. Additional nearby destinations include Amica Mutual Pavilion, Providence Performing Arts Center, Rhode Island Hospital, and Hasbro Children's Hospital. Regional access is available via I-95, I-195, Route 6, Route 10, RIPTA, and nearby commuter connections, with T.F. Green Airport approximately 15 minutes away.
The condominium may also be sold as part of a package with units 116-117 and 118-119.
Key Highlights
- Vacant storefront condominium at 65 Weybosset Street
- Basement included for additional storage
- Building constructed in 1829
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,769
Businesses Nearby
29k
Monthly Visits Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Beebe Florist | Flower Delivery Providence RI — 146 Providence Pl, Providence, RI 02903
- SameDay-FlowerDelivery — 10 dorrance st, providence, ri 02903
- Four Buds Floral Studio — 284 Wickenden St, Providence, RI 02903
- Lofty Designs Florist | Flower Delivery Providence RI — 65 Weybosset St #104, Providence, RI 02903
- Rhode Island Flower Show — 58 Weybosset St, Providence, RI 02903
Frequently Asked Questions
What type of property is this?
Storefront property - Vacant commercial condominium with basement storage and flexibility for retail or business use.
Where is this storefront property located?
The property is located at 65 Weybosset Street 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: Vacant storefront condominium at 65 Weybosset Street; Basement included for additional storage; Building constructed in 1829
