Historic Arcade Retail
65 Weybosset Street Unit 122 & 123 & 023 Providence, RI 02903
65 Weybosset Street Unit 122 & 123 & 023, Providence, RI, 02903
$329,000
For Sale
$329,000
Turnkey retail condo in landmark Providence Arcade.
Property Size1,278 SF
Price / SF$257.43
Days on Market128
Property Features for 65 Weybosset Street Unit 122 & 123 & 023
General Information
- Standard status
- Active
- Size
- 1,278 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1828
Listing Agency
Bond Brokerage
Listed by
Don Martone
Source
Milburyre
Added: Mar 11 Checked: Jul 15 at 11:23 pm
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.
Located within the Arcade Providence, a National Historic Landmark dating back to 1828, this commercial condo offers a unique opportunity in downtown Providence. The combined unit, totaling 1,278 square feet (including 412 square feet of semi-finished lower-level storage), has undergone over $180,000 in recent renovations. Currently configured for fast-casual food service, the space provides flexible potential for various concepts, including boutique retail, hospitality, specialty food, or experiential businesses. The property benefits from its location within a mixed-use environment, surrounded by residential micro-lofts, daily commuter traffic, financial district professionals, and general urban foot traffic. The recent acquisition of Providence Place indicates institutional confidence in the area's retail and mixed-use future. This property offers immediate operational readiness in an architecturally significant retail destination.
Key Highlights
- Located in the iconic Arcade Providence, a National Historic Landmark, offering unmatched historic significance and built‑in consumer traffic.
- Turnkey commercial condo with over $180,000 in recent renovations, configured for fast‑casual food service but flexible for other concepts.
- Strategic downtown location with high visibility, surrounded by residential micro‑lofts, commuters, and financial district professionals.
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
Property Profile
Location Intelligence
Current Use by Public Records
Sr22 Insurance
Marketing & Advertising
environs
(Bike/Boat/Book/etc) Store
Lofty Designs Florist ...
(Bike/Boat/Book/etc) Store
Inkwell Communications
Marketing & Advertising
Rogue Island Local ...
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Turnkey retail condo in landmark Providence Arcade.
Where is this retail space located?
The property is located at 65 Weybosset Street Unit 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: Located in the iconic Arcade Providence, a National Historic Landmark, offering unmatched historic significance and built‑in consumer traffic.; Turnkey commercial condo with over $180,000 in recent renovations, configured for fast‑casual food service but flexible for other concepts.; Strategic downtown location with high visibility, surrounded by residential micro‑lofts, commuters, and financial district professionals.
