Restaurant Condo with Basement
For Sale
$300,000
65 Weybosset Street 116-117, Providence, RI 02903
Combined commercial units include basement storage and equipment, including a pizza oven.
Property Size900 SF
Price / SF$333.33
Days on Market54
Property Features for 65 Weybosset Street 116-117
General Information
Standard status
Active
Size
900 SF
Additional Details
Highway Access
Yes
Equipment Included
Yes
Building Details
Year Built
1829
Listing Agency:
Century 21 Limitless
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Source:
Alpernandmesenbourg
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 5 at 9:38PM
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 restaurant property comprises a 900-square-foot condominium formed by the combination of Units 116 and 117. The space includes modern interior details, stone finishes, a basement for storage, and equipment conveyed with the sale, including a pizza oven. The property is located at 65 Weybosset Street in downtown Providence.
The surrounding setting includes dining, cafés, nightlife, shopping, arts, and entertainment, with Providence Place, WaterFire, the Providence Riverwalk, Brown University, RISD, Johnson & Wales, the Convention Center, Amica Mutual Pavilion, and PPAC nearby. Access to I-95, I-195, Route 6, Route 10, RIPTA, major healthcare facilities, and T.F. Green Airport is also available. The building dates to 1829.
The surrounding setting includes dining, cafés, nightlife, shopping, arts, and entertainment, with Providence Place, WaterFire, the Providence Riverwalk, Brown University, RISD, Johnson & Wales, the Convention Center, Amica Mutual Pavilion, and PPAC nearby. Access to I-95, I-195, Route 6, Route 10, RIPTA, major healthcare facilities, and T.F. Green Airport is also available. The building dates to 1829.
Key Highlights
- 900‑square‑foot restaurant condominium
- Combined Units 116 and 117
- Basement provides additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,974
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,480
$319.5K
Cap Rate 7%
$228,200
$228.2K
Cap Rate 9%
$177,489
$177.5K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$22.1K $24.60/SF
− Vacancy
−$841 −$0.93/SF
EGI
$21.3K $23.67/SF
− OpEx
−$5.3K −$5.92/SF
NOI
$16.0K $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%
$319,480
Cap Rate 7%
$228,200
Cap Rate 9%
$177,489
Alternative Uses
Best Use
Specialty Retail
$228.2K
$199.7K – $266.2K
NOI $15,974 @ 7.0% cap · market cap 5.32%
Second Best
Retail
$191.4K
$167.5K – $223.3K
NOI $13,399 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$301.1K
$263.5K – $351.3K
NOI $21,077 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,769
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Providence, RI
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Combined commercial units include basement storage and equipment, including a pizza oven.
Where is this conventional restaurant located?
The property is located at 65 Weybosset Street 116-117 Providence, RI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 900‑square‑foot restaurant condominium; Combined Units 116 and 117; Basement provides additional storage
