Renovated Retail Space in Historic
For Sale
$329,000
65 Weybosset Street 122 & 123 & 023, Providence, RI 02903
Three connected units provide a food-service-ready layout with lower-level storage and flexibility for specialty retail concepts.
Property Size1,278 SF
Price / SF$257.43
Days on Market93
Property Features for 65 Weybosset Street 122 & 123 & 023
General Information
Standard status
Active
Size
1,278 SF
Building Details
Year Built
1828
Listing Agency:
Bond Brokerage
Listed By:
Don Martone · License #REB.0018968
(401) 954-0270
Source:
Alpernandmesenbourg
Added: Jul 14
Changed: Sep 13
Last Checked: Oct 12 at 9:24PM
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.
This retail offering brings together three connected commercial units totaling 1,278 SF, with an additional 412 SF of semi-finished lower-level storage. The space has undergone recent renovations and is currently arranged for fast-casual food service. The existing configuration is also identified for boutique retail, hospitality, specialty food, and experiential uses.
The property is located at 65 Weybosset Street within Arcade Providence, an 1828 National Historic Landmark in downtown Providence. Residential micro-lofts occupy the levels above, while the surrounding setting includes commuter activity, financial district professionals, and urban pedestrian traffic. The address places the space within a historically significant retail environment with an active downtown context.
The property is located at 65 Weybosset Street within Arcade Providence, an 1828 National Historic Landmark in downtown Providence. Residential micro-lofts occupy the levels above, while the surrounding setting includes commuter activity, financial district professionals, and urban pedestrian traffic. The address places the space within a historically significant retail environment with an active downtown context.
Key Highlights
- 1,278 SF across three combined units, including 412 SF of semi‑finished lower‑level storage
- Current fast‑casual food‑service configuration
- Recent renovations completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,683
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,660
$453.7K
Cap Rate 7%
$324,043
$324.0K
Cap Rate 9%
$252,033
$252.0K
Market Conditions
NOI Build-Up for 1,278 SF
Gross rent
$31.4K $24.60/SF
− Vacancy
−$1.2K −$0.93/SF
EGI
$30.2K $23.67/SF
− OpEx
−$7.6K −$5.92/SF
NOI
$22.7K $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%
$453,660
Cap Rate 7%
$324,043
Cap Rate 9%
$252,033
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
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 - Three connected units provide a food-service-ready layout with lower-level storage and flexibility for specialty retail concepts.
Where is this retail space 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: 1,278 SF across three combined units, including 412 SF of semi‑finished lower‑level storage; Current fast‑casual food‑service configuration; Recent renovations completed
